Economics, Econometrics and Finance
2 years ago

New method revolutionizes control strategies in the face of uncertainty!

arXiv (Cornell University)
Robust feedback switching control: dynamic programming and viscosity solutions
Erhan Bayraktar, Andrea Cosso, Huyên Pham

Paper Summary

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The article discusses a method for controlling systems when there is uncertainty in the model being used. The researchers introduce a new type of control strategy called feedback switching, where the controller adapts based on the state of the system. They show that this method can be used to find the best way to control the system even when the model is not completely accurate. By using a specific mathematical approach, they prove that this method gives the best possible solution to the problem.