Development and Application of Optimal Control Techniques for a Socio-economic System

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ISBN 13 :
Total Pages : 322 pages
Book Rating : 4.:/5 (364 download)

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Book Synopsis Development and Application of Optimal Control Techniques for a Socio-economic System by : James Franklin Stewart

Download or read book Development and Application of Optimal Control Techniques for a Socio-economic System written by James Franklin Stewart and published by . This book was released on 1974 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Optimal Control Methods for Linear Discrete-Time Economic Systems

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Publisher : Springer Science & Business Media
ISBN 13 : 1461257379
Total Pages : 210 pages
Book Rating : 4.4/5 (612 download)

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Book Synopsis Optimal Control Methods for Linear Discrete-Time Economic Systems by : Y. Murata

Download or read book Optimal Control Methods for Linear Discrete-Time Economic Systems written by Y. Murata and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: As our title reveals, we focus on optimal control methods and applications relevant to linear dynamic economic systems in discrete-time variables. We deal only with discrete cases simply because economic data are available in discrete forms, hence realistic economic policies should be established in discrete-time structures. Though many books have been written on optimal control in engineering, we see few on discrete-type optimal control. More over, since economic models take slightly different forms than do engineer ing ones, we need a comprehensive, self-contained treatment of linear optimal control applicable to discrete-time economic systems. The present work is intended to fill this need from the standpoint of contemporary macroeconomic stabilization. The work is organized as follows. In Chapter 1 we demonstrate instru ment instability in an economic stabilization problem and thereby establish the motivation for our departure into the optimal control world. Chapter 2 provides fundamental concepts and propositions for controlling linear deterministic discrete-time systems, together with some economic applica tions and numerical methods. Our optimal control rules are in the form of feedback from known state variables of the preceding period. When state variables are not observable or are accessible only with observation errors, we must obtain appropriate proxies for these variables, which are called "observers" in deterministic cases or "filters" in stochastic circumstances. In Chapters 3 and 4, respectively, Luenberger observers and Kalman filters are discussed, developed, and applied in various directions. Noticing that a separation principle lies between observer (or filter) and controller (cf.

Application of Optimal Control Theory to Economic Development in the Presence of Conflicting Objectives

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ISBN 13 :
Total Pages : 334 pages
Book Rating : 4.:/5 (89 download)

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Book Synopsis Application of Optimal Control Theory to Economic Development in the Presence of Conflicting Objectives by : Abdelhamid Abdouli

Download or read book Application of Optimal Control Theory to Economic Development in the Presence of Conflicting Objectives written by Abdelhamid Abdouli and published by . This book was released on 1986 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Optimal Control Theory with Applications in Economics

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Publisher : MIT Press
ISBN 13 : 0262015730
Total Pages : 387 pages
Book Rating : 4.2/5 (62 download)

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Book Synopsis Optimal Control Theory with Applications in Economics by : Thomas A. Weber

Download or read book Optimal Control Theory with Applications in Economics written by Thomas A. Weber and published by MIT Press. This book was released on 2011-09-30 with total page 387 pages. Available in PDF, EPUB and Kindle. Book excerpt: A rigorous introduction to optimal control theory, with an emphasis on applications in economics. This book bridges optimal control theory and economics, discussing ordinary differential equations, optimal control, game theory, and mechanism design in one volume. Technically rigorous and largely self-contained, it provides an introduction to the use of optimal control theory for deterministic continuous-time systems in economics. The theory of ordinary differential equations (ODEs) is the backbone of the theory developed in the book, and chapter 2 offers a detailed review of basic concepts in the theory of ODEs, including the solution of systems of linear ODEs, state-space analysis, potential functions, and stability analysis. Following this, the book covers the main results of optimal control theory, in particular necessary and sufficient optimality conditions; game theory, with an emphasis on differential games; and the application of control-theoretic concepts to the design of economic mechanisms. Appendixes provide a mathematical review and full solutions to all end-of-chapter problems. The material is presented at three levels: single-person decision making; games, in which a group of decision makers interact strategically; and mechanism design, which is concerned with a designer's creation of an environment in which players interact to maximize the designer's objective. The book focuses on applications; the problems are an integral part of the text. It is intended for use as a textbook or reference for graduate students, teachers, and researchers interested in applications of control theory beyond its classical use in economic growth. The book will also appeal to readers interested in a modeling approach to certain practical problems involving dynamic continuous-time models.

Dynamic Probabilistic Models and Social Structure

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Publisher : Springer Science & Business Media
ISBN 13 :
Total Pages : 472 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Dynamic Probabilistic Models and Social Structure by : Guillermo L. Gómez M.

Download or read book Dynamic Probabilistic Models and Social Structure written by Guillermo L. Gómez M. and published by Springer Science & Business Media. This book was released on 1992 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph deals with the application of stochastic analysis and control techniques to the study of socioeconomic problems arising in processes of development and growth. Economic issues are formulated in a manner amenable to rigorous mathematical scrutiny without losing sight of their essential content. This self-contained work consists of three parts. Part I is a detailed examination of basic themes of available theories of political economy and develops a body of theoretical tools appropriate to the investigation of stochastic accumulation of capital within the framework of social reproduction. Part II points to the elaboration of a novel approach using probabilistic and variational methods. Key concepts such as expansion of capacity, development of productive forces, generation of economic surplus and effective demand are incorporated in stochastic models where learning, renewal of system potentials and conflicting social arrangements are at the heart of capital accumulation. Part III consists of four succinct surveys which carefully introduce the basic machinery from the theory of systems, (deterministic) optimal control, stochastic analysis and control of random systems. The last survey identifies distinguishing features of a labor-surplus economy of the peripheral type within the world capitalist system. The application of the semimartingale methodology and analogies from probabilistic mechanisc shifts informational structures to the forefront and points to fundamental links between microscopic and macroscopic aspects of system interactions as well as time scalling and observation of socioeconomic phenomena.

Optimal Control Theory

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Publisher : Taylor & Francis US
ISBN 13 : 9780387280929
Total Pages : 536 pages
Book Rating : 4.2/5 (89 download)

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Book Synopsis Optimal Control Theory by : Suresh P. Sethi

Download or read book Optimal Control Theory written by Suresh P. Sethi and published by Taylor & Francis US. This book was released on 2006 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimal control methods are used to determine optimal ways to control a dynamic system. The theoretical work in this field serves as a foundation for the book, which the authors have applied to business management problems developed from their research and classroom instruction. Sethi and Thompson have provided management science and economics communities with a thoroughly revised edition of their classic text on Optimal Control Theory. The new edition has been completely refined with careful attention to the text and graphic material presentation. Chapters cover a range of topics including finance, production and inventory problems, marketing problems, machine maintenance and replacement, problems of optimal consumption of natural resources, and applications of control theory to economics. The book contains new results that were not available when the first edition was published, as well as an expansion of the material on stochastic optimal control theory.

Econometric Decision Models

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Publisher : Springer Science & Business Media
ISBN 13 : 3642516750
Total Pages : 629 pages
Book Rating : 4.6/5 (425 download)

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Book Synopsis Econometric Decision Models by : Josef Gruber

Download or read book Econometric Decision Models written by Josef Gruber and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 629 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume contains a refereed selection of revised papers which were originally presented at the Second International Conference on Econometric Decision Models, University of Hagen (FernUni versitat). The conference was held in Haus Nordhelle, a meeting place in the mountainous area " Sauerland" , some 50 kilometers south of Hagen, on August 29 - September 1, 1989. Some details about this conference are given in the first paper, they need not be repeated here. The 40 papers included in this volume are organized in 10 "parts", shown in the table of contents. Included are such "fashionable" topics like "optimal control", "cointegration" and "rational expec tations models". In each part, the papers have been arranged alphabetically by author, unless there were good reasons for a different arrangement. To facilitate the decision making of the readers, all papers (except a few short ones) contain an abstract, a list of keywords and a table of contents. At the end of the proceedings volume, there is a list of authors. More than ten years ago, I began to organize meetings of econometricians, mainly called "seminar" or " colloquium". One major purpose of these meetings has always been to improve international cooperation of econometric model builders (and model users) from "the East" and "the West". Unprecedented changes to the better have taken place recently ("perestroika"). For a large fraction of participants from the Soviet Union, the 1989 conference was the first conference in a Western country.

Systems Approach for Development

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Publisher : Elsevier
ISBN 13 : 1483188248
Total Pages : 663 pages
Book Rating : 4.4/5 (831 download)

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Book Synopsis Systems Approach for Development by : M. A. R. Ghonaimy

Download or read book Systems Approach for Development written by M. A. R. Ghonaimy and published by Elsevier. This book was released on 2014-05-18 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: Systems Approach for Development presents articles in such topics as methodology, management and planning, education and transfer of technology, industrial application, energy, power systems, transportation and communication systems, urban systems and housing, and water resource systems. A sample of article in methodology is a simplified model approach in the hierarchical control systems. The book discusses such topics as dynamic economic models, creation of an optimum technology for olive oil production, systems prospective, types of technological forecasting techniques, and the use of a learning automata model in resource allocation problems. The optimal rate of transfer of technology is briefly analyzed and a systems approach to technological education is covered. An essay in the development of operator interface techniques is given. A section of the text provides the requirements of an ideal teaching system for microcomputers. The book will provide useful information to engineers, sociologists, economists, computer programmers, students and researchers in the field of science.

Developments of Control Theory for Economic Analysis

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Publisher : Springer Science & Business Media
ISBN 13 : 9400934955
Total Pages : 355 pages
Book Rating : 4.4/5 (9 download)

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Book Synopsis Developments of Control Theory for Economic Analysis by : Carlo Carraro

Download or read book Developments of Control Theory for Economic Analysis written by Carlo Carraro and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: Giovanni Castellani Rector of the University of Venice This book contains the Proceedings of the Conference on "Economic Policy and Control Theory" which was held at the University of Venice (Italy) on 27 January-l February 1985. The goal of the Conference was to survey the main developments of control theory in economics, by emphasizing particularly new achievements in the analysis of dynamic economic models by con trol methods. The development of control theory is strictly related to the development of science and technology in the last forty years. Control theory was indeed applied mainly in engineering, and only in the sixties economists started using control methods for analys ing economic problems, even if some preliminary economic applica tions of calculus of variations, from which control theory was then developed, date back to the twenties. Applications of control theory in economics also had to solve new, complicated, problems, like those encountered in optimal growth models, or like the determination of the appropriate inter temporal social welfare function, of the policy horizon and the relative final state of the system, of the appropriate discount factor. Furthermore, the uncertainty characterizing economic models had to be taken into account, thus giving rise to the development of stochastic control theory in economics.

Global Asymptotic Stability of Optimal Control Systems with Applications to the Theory of Economic Growth

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Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (833 download)

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Book Synopsis Global Asymptotic Stability of Optimal Control Systems with Applications to the Theory of Economic Growth by : William A. Brock

Download or read book Global Asymptotic Stability of Optimal Control Systems with Applications to the Theory of Economic Growth written by William A. Brock and published by . This book was released on 1974 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Miscellaneous Publication

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Publisher :
ISBN 13 :
Total Pages : 252 pages
Book Rating : 4.4/5 (4 download)

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Book Synopsis Miscellaneous Publication by :

Download or read book Miscellaneous Publication written by and published by . This book was released on 1979 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Dynamic Systems, Economic Growth, and the Environment

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Publisher : Springer Science & Business Media
ISBN 13 : 3642021328
Total Pages : 295 pages
Book Rating : 4.6/5 (42 download)

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Book Synopsis Dynamic Systems, Economic Growth, and the Environment by : Jesús Crespo Cuaresma

Download or read book Dynamic Systems, Economic Growth, and the Environment written by Jesús Crespo Cuaresma and published by Springer Science & Business Media. This book was released on 2009-10-20 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: The major goal of the book is to create an environment for matching different d- ciplinary approaches to studying economic growth. This goal is implemented on the basis of results of the Symposium “Applications of Dynamic Systems to E- nomic Growth with Environment” which was held at the International Institute for Applied Systems Analysis (IIASA) on the 7th–8th of November, 2008, within the IIASA Project “Driving Forces of Economic Growth” (ECG). The symposium was organized by coordinators of the ECG project: Jesus Crespo-Cuaresma from IIASA World Population Program, and Tapio Palokangas and Alexander Tarasyev from IIASA Dynamic Systems Program. The book addresses the issues of sustainability of economic growth in a cha- ing environment, global warming and exhausting energy resources, technological change, and also focuses on explanations of signi?cant ?uctuations in countries’ growth rates. The chapters focus on the analysis of historical economic growth - periences in relation to environmental policy, technological change, development of transport infrastructure, population issues and environmental mortality. The book is written in a popular-science style, accessible to any intelligent lay reader. The prime audience for the book is economists, mathematicians and en- neersworkingonproblemsofeconomicgrowthandenvironment.Themathematical part of the book is presented in a rigorous manner, and the detailed analysis is - pected to be of interest to specialists in optimal control and applications to economic modeling. The book consists of four interrelated parts.

Optimal Control Problems Related to the Robinson–Solow–Srinivasan Model

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Publisher : Springer Nature
ISBN 13 : 9811622523
Total Pages : 354 pages
Book Rating : 4.8/5 (116 download)

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Book Synopsis Optimal Control Problems Related to the Robinson–Solow–Srinivasan Model by : Alexander J. Zaslavski

Download or read book Optimal Control Problems Related to the Robinson–Solow–Srinivasan Model written by Alexander J. Zaslavski and published by Springer Nature. This book was released on 2021-08-07 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is devoted to the study of classes of optimal control problems arising in economic growth theory, related to the Robinson–Solow–Srinivasan (RSS) model. The model was introduced in the 1960s by economists Joan Robinson, Robert Solow, and Thirukodikaval Nilakanta Srinivasan and was further studied by Robinson, Nobuo Okishio, and Joseph Stiglitz. Since then, the study of the RSS model has become an important element of economic dynamics. In this book, two large general classes of optimal control problems, both of them containing the RSS model as a particular case, are presented for study. For these two classes, a turnpike theory is developed and the existence of solutions to the corresponding infinite horizon optimal control problems is established. The book contains 9 chapters. Chapter 1 discusses turnpike properties for some optimal control problems that are known in the literature, including problems corresponding to the RSS model. The first class of optimal control problems is studied in Chaps. 2–6. In Chap. 2, infinite horizon optimal control problems with nonautonomous optimality criteria are considered. The utility functions, which determine the optimality criterion, are nonconcave. This class of models contains the RSS model as a particular case. The stability of the turnpike phenomenon of the one-dimensional nonautonomous concave RSS model is analyzed in Chap. 3. The following chapter takes up the study of a class of autonomous nonconcave optimal control problems, a subclass of problems considered in Chap. 2. The equivalence of the turnpike property and the asymptotic turnpike property, as well as the stability of the turnpike phenomenon, is established. Turnpike conditions and the stability of the turnpike phenomenon for nonautonomous problems are examined in Chap. 5, with Chap. 6 devoted to the study of the turnpike properties for the one-dimensional nonautonomous nonconcave RSS model. The utility functions, which determine the optimality criterion, are nonconcave. The class of RSS models is identified with a complete metric space of utility functions. Using the Baire category approach, the turnpike phenomenon is shown to hold for most of the models. Chapter 7 begins the study of the second large class of autonomous optimal control problems, and turnpike conditions are established. The stability of the turnpike phenomenon for this class of problems is investigated further in Chaps. 8 and 9.

Energy Research Abstracts

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Publisher :
ISBN 13 :
Total Pages : 916 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Energy Research Abstracts by :

Download or read book Energy Research Abstracts written by and published by . This book was released on 1982 with total page 916 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Project Management Techniques for Highly Integrated Programs

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Publisher :
ISBN 13 :
Total Pages : 18 pages
Book Rating : 4.:/5 (317 download)

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Book Synopsis Project Management Techniques for Highly Integrated Programs by : James F. Stewart

Download or read book Project Management Techniques for Highly Integrated Programs written by James F. Stewart and published by . This book was released on 1983 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Dynamic Optimization, Second Edition

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Publisher : Courier Corporation
ISBN 13 : 0486310280
Total Pages : 402 pages
Book Rating : 4.4/5 (863 download)

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Book Synopsis Dynamic Optimization, Second Edition by : Morton I. Kamien

Download or read book Dynamic Optimization, Second Edition written by Morton I. Kamien and published by Courier Corporation. This book was released on 2013-04-17 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since its initial publication, this text has defined courses in dynamic optimization taught to economics and management science students. The two-part treatment covers the calculus of variations and optimal control. 1998 edition.

Discrete-time Optimal Control of an Economic System Using Different Objective Functions *)

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ISBN 13 :
Total Pages : 70 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Discrete-time Optimal Control of an Economic System Using Different Objective Functions *) by : Carl-Louis Sandblom

Download or read book Discrete-time Optimal Control of an Economic System Using Different Objective Functions *) written by Carl-Louis Sandblom and published by . This book was released on 1985 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: