Control of linear dynamic market systems
type: Item
instance of: scholarly article
title: Control of linear dynamic market systems
zbMATH Open document ID: 0649.90029
DOI: 10.1016/0165-1889(86)90001-1
author: David G. Luenberger
publication date: 1986-01-01T00:00:00Z
review text: 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.
Mathematics Subject Classification ID: 91B62
Mathematics Subject Classification ID: 93B05
Mathematics Subject Classification ID: 49J15
Mathematics Subject Classification ID: 93B07
zbMATH DE Number: 4060952
zbMATH Keywords: perfect foresight dynamic equilibrium model
zbMATH Keywords: linear optimal control
zbMATH Keywords: reachability
zbMATH Keywords: existence of a dynamic equilibrium
zbMATH Keywords: observability
MaRDI profile type: Publication
full work available at URL: 0165-1889(86)90001-1
OpenAlex ID: W2054808044
cites work: Q5342860
cites work: Dynamic equations in descriptor form
cites work: Q3908823
published in: Journal of Economic Dynamics and Control
description: scientific article; zbMATH DE number 4060952