Control of linear dynamic market systems (Q1106077)
From MaRDI portal
 | This is the item page for this Wikibase entity, intended for internal use and editing purposes. Please use this page instead for the normal view: Control of linear dynamic market systems |
scientific article; zbMATH DE number 4060952
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Control of linear dynamic market systems |
scientific article; zbMATH DE number 4060952 |
Statements
Control of linear dynamic market systems (English)
0 references
1986
0 references
The paper introduces a perfect foresight dynamic equilibrium model where the behaviour of profit-maximizing producers is presented by a linear optimal control problem, while the market demand is a given time- dependent linear vector-function of prices. The resulting system is studied from the viewpoint of control theory. The questions of reachability (which is here equivalent to the existence of a dynamic equilibrium subject to any value of a terminal bound) and observability are of primary concern.
0 references
perfect foresight dynamic equilibrium model
0 references
linear optimal control
0 references
reachability
0 references
existence of a dynamic equilibrium
0 references
observability
0 references
