Stabilization of a Rotating Disk-Beam System with Infinite Memory via Minimal State Variable: A Moment Control Case

2020 ◽  
Vol 58 (2) ◽  
pp. 845-865
Author(s):  
Zhong-Jie Han ◽  
Boumediene Chentouf ◽  
Huan Geng
Keyword(s):  
Rotating Disk ◽  
Control Case ◽  
Infinite Memory ◽  
Minimal State ◽  
State Variable ◽  
Beam System ◽  
Moment Control

Limited information minimal state variable learning in a medium-scale multi-country model

2013 ◽  
Vol 33 ◽  
pp. 808-825 ◽  
Author(s):  
Alistair Dieppe ◽  
Alberto González Pandiella ◽  
Stephen Hall ◽  
Alpo Willman
Keyword(s):  
Limited Information ◽  
Minimal State ◽  
Medium Scale ◽  
State Variable

Stabilization of a nonlinear rotating disk-beam system with localized thermal effect

2018 ◽  
Vol 93 (2) ◽  
pp. 785-799 ◽  
Author(s):  
Huan Geng ◽  
Zhong-Jie Han ◽  
Jing Wang ◽  
Gen-Qi Xu
Keyword(s):  
Thermal Effect ◽  
Rotating Disk ◽  
Beam System

scholarly journals Minimal state variable solutions to Markov-switching rational expectations models

2011 ◽  
Vol 35 (12) ◽  
pp. 2150-2166 ◽  
Author(s):  
Roger E.A. Farmer ◽  
Daniel F. Waggoner ◽  
Tao Zha
Keyword(s):  
Rational Expectations ◽  
Markov Switching ◽  
Minimal State ◽  
State Variable

Long-Term Contracting with Markovian Consumers

2005 ◽  
Vol 95 (3) ◽  
pp. 637-658 ◽  
Author(s):  
Marco Battaglini
Keyword(s):  
Markov Process ◽  
Production Technology ◽  
Ownership Structure ◽  
Customer Relationship ◽  
Optimal Contract ◽  
Infinite Memory ◽  
State Variable ◽  
Efficient Level ◽  
General Conditions

To study how a firm can capitalize on a long-term customer relationship, we characterize the optimal contract between a monopolist and a consumer whose preferences follow a Markov process. The optimal contract is nonstationary and has infinite memory, but is described by a simple state variable. Under general conditions, supply converges to the efficient level for any degree of persistence of the types and along any history, though convergence is history-dependent. In contrast, as with constant types, the optimal contract can be renegotiation-proof, even with highly persistent types. These properties provide insights into the optimal ownership structure of the production technology.

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