An optimization problem for systems that are subject to perturbations where both state observations and control actions are impulsive is here addressed. The dynamics equation is given by a differential inclusion ( ) ( , ( )) x t F t x t ∈ and the optimal strategy is the minimizer of the worst viable perturbation process (minimax). Such formulation is appropriate when noise is barely known but l...

Christopher H. Wheeler is a research officer in the Research division of the Bank. He previously was an assistant professor of economics at Tulane University in New Orleans. Wheeler received his doctoral and master’s degrees in economics from the University of Wisconsin-Madison in 1998 and 1995, respectively, and his bachelor’s degree in economics from Colby College in Waterville, Maine, in 199...