| Authors |
Brock, W., Xepapadeas, A. and Yannacopoulos, A. |
| Title |
Spatiotemporal robust control in infinite dimensional spaces |
| Abstract |
We formulate infinite dimensional 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 cite(s) could cause regulation to break down, to be very costly, or to induce pattern formation and spatial clustering. We call sites associated with these phenomena hot spots. |
| Creation Date |
2014-04-11 |
| Keywords |
Infinite dimensional stochastic control, robust control, Operator and matrix Riccati equation, Hot spot formation, Pattern formation, Hamilton-Jacobi Bellman equation |
| File |
Spatiotemporal.robust.control.pdf (523848 bytes) |
| File-Function |
First version |
|
Copyright © 2009 [D.I.E.S.S. A.U.E.B.]. All rights reserved.
|
