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Caution, Probing, and the Value of Information in the Control of Uncertain Systems

In: Annals of Economic and Social Measurement, Volume 5, number 3

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  • Yaakov Bar-Shalom
  • Edison Tse

Abstract

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Suggested Citation

  • Yaakov Bar-Shalom & Edison Tse, 1976. "Caution, Probing, and the Value of Information in the Control of Uncertain Systems," NBER Chapters, in: Annals of Economic and Social Measurement, Volume 5, number 3, pages 323-337, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberch:10483
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    References listed on IDEAS

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    1. Elizabeth Chase MacRae, 1972. "Linear Decision with Experimentation," NBER Chapters, in: Annals of Economic and Social Measurement, Volume 1, number 4, pages 437-447, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Craig A. Bond & John B. Loomis, 2009. "Using Numerical Dynamic Programming to Compare Passive and Active Learning in the Adaptive Management of Nutrients in Shallow Lakes," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 57(4), pages 555-573, December.
    2. David Kendrick, 1976. "Applications of Control Theory to Macroeconomics," NBER Chapters, in: Annals of Economic and Social Measurement, Volume 5, number 2, pages 171-190, National Bureau of Economic Research, Inc.
    3. Bond, Craig A., 2008. "On the Potential Use of Adaptive Control Methods for Improving Adaptive Natural Resource Management," Working Papers 108721, Colorado State University, Department of Agricultural and Resource Economics.
    4. In Chang Hwang & Richard S. J. Tol & Marjan W. Hofkes, 2019. "Active Learning and Optimal Climate Policy," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 73(4), pages 1237-1264, August.
    5. Kelly, David L. & Kolstad, Charles D., 1999. "Bayesian learning, growth, and pollution," Journal of Economic Dynamics and Control, Elsevier, vol. 23(4), pages 491-518, February.
    6. V. Blueschke-Nikolaeva & D. Blueschke & R. Neck, 2020. "OPTCON3: An Active Learning Control Algorithm for Nonlinear Quadratic Stochastic Problems," Computational Economics, Springer;Society for Computational Economics, vol. 56(1), pages 145-162, June.
    7. Beck, Gunter W. & Wieland, Volker, 2002. "Learning and control in a changing economic environment," Journal of Economic Dynamics and Control, Elsevier, vol. 26(9-10), pages 1359-1377, August.
    8. Marco Tucci, 2006. "Understanding the Difference Between Robust Control and Optimal Control in a Linear Discrete-Time System with Time-Varying Parameters," Computational Economics, Springer;Society for Computational Economics, vol. 27(4), pages 533-558, June.

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