Control of economic systems under the process of data improvement (Q1111909)

Presented is an approach to optimally controlling an economic system with some parameters incompletely defined. An idea of data improvement is discussed by the authors with respect to the economic parameters of the controlled system. Data improvement is a stochastic process of decreasing (in time) the interval of uncertainty. It may by considered as a process with ``independent decrements'' of entropy. Based on a simple dynamic model of choice between the existing conventional technology and a new technology the authors explain the idea of optimal control with data improvement.