@techreport{Blueschke2012Insights, abstract = {Optimal control
of dynamic econometric models has a wide variety of applications
including economic policy relevant issues. There are several
algorithms extending the basic case of a linear-quadratic
optimization and taking nonlinearity and stochastics into
account, but being still limited in a variety of ways, e.g.,
symmetry of the objective function and identical data
frequencies of control variables. To overcome these problems, an
alternative approach based on heuristics is suggested. To this
end, we apply a classical algorithm (OPTCON) and a heuristic
approach (Differential Evolution) to three different econometric
models and compare their performance. In this paper we consider
scenarios of symmetric and asymmetric quadratic objective
functions. Results provide a strong support for the heuristic
approach encouraging its further application to optimum control
problems.}, address = {Jena}, author = {Dmitri Blueschke and
Viktoria Blueschke-Nikolaeva and Ivan Sav