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Uncertainty & risk have always played significant roles in policy making, at both micro- & macrolevels, from formulation of policy models to actual implementation. The impact of risk aversion on policy making has differed, however, both in magnitude & intensity among countries: for less developed countries with large commodity exports, stabilization policies have played as important a role as those for income growth & employment; for centrally planned economies, investment cycles leading to large-scale divergences of actual from planned targets in strategic sectors have led policymakers to build safety margins into the planning process; for developed economies, the applied theory of indicative planning & decentralization has stressed informational gaps & competing risks that may impede an efficient & cooperative solution between private & public sectors. A selective survey & appraisal of the planning methods as they relate to risk & uncertainty is attempted here for less developed, centrally planned, & developed market economies. Appendix. HA.

This volume discusses the latest techniques and their economic applications for modern industries like computer, pharmaceutical, banking and other manufacturing. Both econometric and mathematical programming techniques are analyzed so as to develop a synthetic approach.

This volume provides an integrated, modern treatment of control theory in economics. In addition to synthesizing the different phases of control theory methods, including feedback, stochastic and adaptive control, Control Theory Methods in Economics discusses several recent developments in applied control theory. Aspects of econometrics estimation receive special emphasis, because of their importance to empirical applications in economics. Control Theory Methods in Economics will be an important general reference for researchers and graduate students of applied control theory methods, but also has extensive professional applications in dynamic portfolio models in finance, neoclassical models of optimal growth, stabilizing control policies in variable structure models and problems of forecasting and estimation in dynamic models of rational expectations