Power-based supervisory control theory of hybrid systems and its application to the analysis of financial crisis

PROJECT TITLE :

Power-based supervisory control theory of hybrid systems and its application to the analysis of financial crisis

ABSTRACT:

The authors study how n native supervisors with individual control objectives will achieve a common goal by modular control based mostly on power in a hybrid system framework. Every native supervisor is an observer designed with its own objective for an approximated finite state machine of a hybrid plant based mostly on the l-complete approximation scheme of Moor et al. in 2002. We present the notion of power observability of the common control objective and show that, if the common specification is controllable and power observable with respect to an approximated model, then n native supervisors will achieve the control objective of the hybrid plant. Then, we apply the proposed power-based modular management theory to the analysis of the monetary crisis occurred in 2008. The power observability explains how the deregulation policies resulting in the crisis may be pursued. Whereas the tiny elite group of politicians and bankers might set the policies with inordinate power based on full information, most public individuals were ignorant and unconcerned regarding the policies, and hence did not oppose them.

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