| Article ID: | iaor200022 |
| Country: | Hungary |
| Volume: | XXVII |
| Issue: | 1/2 |
| Start Page Number: | 11 |
| End Page Number: | 17 |
| Publication Date: | Jan 1996 |
| Journal: | Szigma |
| Authors: | Simonovits Andrs |
| Keywords: | economics, history |
This paper is a short review of Béla Martos' work on control theory. Since it is addressed to a wider audience, details are omitted. Those interested in details should consult the volume edited by Kornai and Martos, the monograph and its longer survey. The paper consists of seven sections. 1. Control theory. 2. Economic applications. 3. The Hungarian school of control theory. 4. Stability and viability. 5. An example. 6. Equivalence of mechanisms. 7. What can we learn from Béla?