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Optimal Control Theory And Economic Analysis
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Book Synopsis Foundations of Dynamic Economic Analysis by : Michael R. Caputo
Download or read book Foundations of Dynamic Economic Analysis written by Michael R. Caputo and published by Cambridge University Press. This book was released on 2005-01-10 with total page 632 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foundations of Dynamic Economic Analysis presents a modern and thorough exposition of the fundamental mathematical formalism used to study optimal control theory, i.e., continuous time dynamic economic processes, and to interpret dynamic economic behavior. The style of presentation, with its continual emphasis on the economic interpretation of mathematics and models, distinguishes it from several other excellent texts on the subject. This approach is aided dramatically by introducing the dynamic envelope theorem and the method of comparative dynamics early in the exposition. Accordingly, motivated and economically revealing proofs of the transversality conditions come about by use of the dynamic envelope theorem. Furthermore, such sequencing of the material naturally leads to the development of the primal-dual method of comparative dynamics and dynamic duality theory, two modern approaches used to tease out the empirical content of optimal control models. The stylistic approach ultimately draws attention to the empirical richness of optimal control theory, a feature missing in virtually all other textbooks of this type.
Book Synopsis Optimal Control Theory and Economic Analysis by : Gustav Feichtinger
Download or read book Optimal Control Theory and Economic Analysis written by Gustav Feichtinger and published by North-Holland. This book was released on 1982 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
Book Synopsis Foundations of Dynamic Economic Analysis by : Michael Ralph Caputo
Download or read book Foundations of Dynamic Economic Analysis written by Michael Ralph Caputo and published by Cambridge University Press. This book was released on 2005-01-17 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foundations of Dynamic Economic Analysis presents a modern and thorough exposition of the fundamental mathematical formalism used to study optimal control theory, i.e., continuous time dynamic economic processes, and to interpret dynamic economic behavior. The style of presentation, with its continual emphasis on the economic interpretation of mathematics and models, distinguishes it from several other excellent texts on the subject. This approach is aided dramatically by introducing the dynamic envelope theorem and the method of comparative dynamics early in the exposition. Accordingly, motivated and economically revealing proofs of the transversality conditions come about by use of the dynamic envelope theorem. Furthermore, such sequencing of the material naturally leads to the development of the primal-dual method of comparative dynamics and dynamic duality theory, two modern approaches used to tease out the empirical content of optimal control models. The stylistic approach ultimately draws attention to the empirical richness of optimal control theory, a feature missing in virtually all other textbooks of this type.
Book Synopsis Optimal-control-theory and economic analysis by : Gustav Feichtinger (1940-, author)
Download or read book Optimal-control-theory and economic analysis written by Gustav Feichtinger (1940-, author) and published by . This book was released on 1988 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal Control Theory and Static Optimization in Economics by : Daniel Léonard
Download or read book Optimal Control Theory and Static Optimization in Economics written by Daniel Léonard and published by Cambridge University Press. This book was released on 1992-01-31 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimal control theory is a technique being used increasingly by academic economists to study problems involving optimal decisions in a multi-period framework. This textbook is designed to make the difficult subject of optimal control theory easily accessible to economists while at the same time maintaining rigour. Economic intuitions are emphasized, and examples and problem sets covering a wide range of applications in economics are provided to assist in the learning process. Theorems are clearly stated and their proofs are carefully explained. The development of the text is gradual and fully integrated, beginning with simple formulations and progressing to advanced topics such as control parameters, jumps in state variables, and bounded state space. For greater economy and elegance, optimal control theory is introduced directly, without recourse to the calculus of variations. The connection with the latter and with dynamic programming is explained in a separate chapter. A second purpose of the book is to draw the parallel between optimal control theory and static optimization. Chapter 1 provides an extensive treatment of constrained and unconstrained maximization, with emphasis on economic insight and applications. Starting from basic concepts, it derives and explains important results, including the envelope theorem and the method of comparative statics. This chapter may be used for a course in static optimization. The book is largely self-contained. No previous knowledge of differential equations is required.
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.
Book Synopsis Betrachtungen eines Laien ueber die Confessionen mit spezieller Ruecksicht auf die augsburgische Confession by :
Download or read book Betrachtungen eines Laien ueber die Confessionen mit spezieller Ruecksicht auf die augsburgische Confession written by and published by . This book was released on 1873 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal Control Theory and Economic Analysis 3 by : Gustav Feichtinger
Download or read book Optimal Control Theory and Economic Analysis 3 written by Gustav Feichtinger and published by North-Holland. This book was released on 1988 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimal control theory is a powerful instrument in the analysis of intertemporal economic decision processes. This book provides a survey of control-theoretic applications in economics, management science, and operations research. Among the subjects covered are optimal cyclical policies in control models, new theoretical developments in optimal control and differential games, models on the dynamics of the firm, and various applications of optimal control theory to economic problems.
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.
Book Synopsis Optimal Control Theory and Economic Analysis 2 by : Gustav Feichtinger
Download or read book Optimal Control Theory and Economic Analysis 2 written by Gustav Feichtinger and published by . This book was released on 1985 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal Control Theory by : Donald E. Kirk
Download or read book Optimal Control Theory written by Donald E. Kirk and published by Courier Corporation. This book was released on 2012-04-26 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: Upper-level undergraduate text introduces aspects of optimal control theory: dynamic programming, Pontryagin's minimum principle, and numerical techniques for trajectory optimization. Numerous figures, tables. Solution guide available upon request. 1970 edition.
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.
Book Synopsis Optimization, Dynamics, and Economic Analysis by : Engelbert J. Dockner
Download or read book Optimization, Dynamics, and Economic Analysis written by Engelbert J. Dockner and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book includes a collection of articles that present recent developments in the fields of optimization and dynamic game theory, economic dynamics, dynamic theory of the firm, and population dynamics and non standard applications of optimal control theory. The authors of the articles are well respected authorities in their fields and are known for their high quality research in the fields of optimization and economic dynamics.
Book Synopsis Linear Programming and Economic Analysis by : Robert Dorfman
Download or read book Linear Programming and Economic Analysis written by Robert Dorfman and published by Courier Corporation. This book was released on 2012-10-10 with total page 719 pages. Available in PDF, EPUB and Kindle. Book excerpt: Designed primarily for economists and those interested in management economics who are not necessarily accomplished mathematicians, this text offers a clear, concise exposition of the relationship of linear programming to standard economic analysis. The research and writing were supported by The RAND Corporation in the late 1950s. Linear programming has been one of the most important postwar developments in economic theory, but until publication of the present volume, no text offered a comprehensive treatment of the many facets of the relationship of linear programming to traditional economic theory. This book was the first to provide a wide-ranging survey of such important aspects of the topic as the interrelations between the celebrated von Neumann theory of games and linear programming, and the relationship between game theory and the traditional economic theories of duopoly and bilateral monopoly. Modern economists will especially appreciate the treatment of the connection between linear programming and modern welfare economics and the insights that linear programming gives into the determinateness of Walrasian equilibrium. The book also offers an excellent introduction to the important Leontief theory of input-output as well as extensive treatment of the problems of dynamic linear programming. Successfully used for three decades in graduate economics courses, this book stresses practical problems and specifies important concrete applications.
Book Synopsis Primer on Optimal Control Theory by : Jason L. Speyer
Download or read book Primer on Optimal Control Theory written by Jason L. Speyer and published by SIAM. This book was released on 2010-05-13 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: A rigorous introduction to optimal control theory, which will enable engineers and scientists to put the theory into practice.
Book Synopsis Optimal Control Theory by : L.D. Berkovitz
Download or read book Optimal Control Theory written by L.D. Berkovitz and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an introduction to the mathematical theory of optimal control of processes governed by ordinary differential eq- tions. It is intended for students and professionals in mathematics and in areas of application who want a broad, yet relatively deep, concise and coherent introduction to the subject and to its relati- ship with applications. In order to accommodate a range of mathema- cal interests and backgrounds among readers, the material is arranged so that the more advanced mathematical sections can be omitted wi- out loss of continuity. For readers primarily interested in appli- tions a recommended minimum course consists of Chapter I, the sections of Chapters II, III, and IV so recommended in the introductory sec tions of those chapters, and all of Chapter V. The introductory sec tion of each chapter should further guide the individual reader toward material that is of interest to him. A reader who has had a good course in advanced calculus should be able to understand the defini tions and statements of the theorems and should be able to follow a substantial portion of the mathematical development. The entire book can be read by someone familiar with the basic aspects of Lebesque integration and functional analysis. For the reader who wishes to find out more about applications we recommend references [2], [13], [33], [35], and [50], of the Bibliography at the end of the book.
