Robust Control and Hot Spots in Spatiotemporal Economic Systems


We formulate stochastic robust optimal control problems, motivated by applications arising in interconnected economic systems, or spatially extended economies. We study in detail linear quadratic problems and nonlinear problems. We derive optimal robust controls and identify conditions under which concerns about model misspecification at specific site(s… (More)
DOI: 10.1007/s13235-014-0109-z


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