Grinold, Richard C.; Hopkins, David S.P.; Massy, William F. - In: Bell Journal of Economics 9 (1978) 2, pp. 396-420
A linear control model of a university budget is presented as an aid to developing optimal strategies for dealing with major exogenous uncertainties. The specific uncertainties treated are those associated with inflation, endowment returns, and fund-raising. The model seeks to stabilize budget...