Back to School Savings: Save up to 30% on print books and eBooks. No promo code needed.
Back to School Savings: Save up to 30%
Optimal Control Theory with Economic Applications
1st Edition - February 1, 1987
Authors: A. Seierstad, K. Sydsæter
9 7 8 - 0 - 4 4 4 - 8 7 9 2 3 - 3
This book serves not only as an introduction, but also as an advanced text and reference source in the field of deterministic optimal control systems governed by ordinary… Read more
Save 50% on book bundles
Immediately download your ebook while waiting for your print delivery. No promo code is needed.
This book serves not only as an introduction, but also as an advanced text and reference source in the field of deterministic optimal control systems governed by ordinary differential equations. It also includes an introduction to the classical calculus of variations. An important feature of the book is the inclusion of a large number of examples, in which the theory is applied to a wide variety of economics problems. The presentation of simple models helps illuminate pertinent qualitative and analytic points, useful when confronted with a more complex reality. These models cover: economic growth in both open and closed economies, exploitation of (non-) renewable resources, pollution control, behaviour of firms, and differential games. A great emphasis on precision pervades the book, setting it apart from the bulk of literature in this area. The rigorous techniques presented should help the reader avoid errors which often recur in the application of control theory within economics.
Calculus of Variations. Optimal Control Theory Without Restrictions On The State Variables. Extensions. Mixed Constraints. Pure State Constraints. Mixed and Pure State Constraints.