Application Of Optimal Control Theory To Economic Development In The Presence Of Conflicting Objectives
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Application Of Optimal Control Theory To Economic Development In The Presence Of Conflicting Objectives
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Author : Abdelhamid Abdouli
language : en
Publisher:
Release Date : 1986
Application Of Optimal Control Theory To Economic Development In The Presence Of Conflicting Objectives written by Abdelhamid Abdouli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Economic development categories.
Application Of Optimal Control Theory To Economic Development In The Presence Of Conflicting Objectives
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Author : Abdelhamid Abdouli
language : en
Publisher:
Release Date : 1986
Application Of Optimal Control Theory To Economic Development In The Presence Of Conflicting Objectives written by Abdelhamid Abdouli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Economic development categories.
Optimal Control Problems Related To The Robinson Solow Srinivasan Model
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Author : Alexander J. Zaslavski
language : en
Publisher: Springer Nature
Release Date : 2021-08-07
Optimal Control Problems Related To The Robinson Solow Srinivasan Model written by Alexander J. Zaslavski and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-07 with Mathematics categories.
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.
Optimal Control Problems Arising In Mathematical Economics
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Author : Alexander J. Zaslavski
language : en
Publisher: Springer
Release Date : 2023-06-30
Optimal Control Problems Arising In Mathematical Economics written by Alexander J. Zaslavski and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-06-30 with Mathematics categories.
This book is devoted to the study of two large classes of discrete-time optimal control problems arising in mathematical economics. Nonautonomous optimal control problems of the first class are determined by a sequence of objective functions and sequence of constraint maps. They correspond to a general model of economic growth. We are interested in turnpike properties of approximate solutions and in the stability of the turnpike phenomenon under small perturbations of objective functions and constraint maps. The second class of autonomous optimal control problems corresponds to another general class of models of economic dynamics which includes the Robinson–Solow–Srinivasan model as a particular case. In Chap. 1 we discuss turnpike properties for a large class of discrete-time optimal control problems studied in the literature and for the Robinson–Solow–Srinivasan model. In Chap. 2 we introduce the first class of optimal control problems and study its turnpike property. This class of problems is also discussed in Chaps. 3–6. In Chap. 3 we study the stability of the turnpike phenomenon under small perturbations of the objective functions. Analogous results for problems with discounting are considered in Chap. 4. In Chap. 5 we study the stability of the turnpike phenomenon under small perturbations of the objective functions and the constraint maps. Analogous results for problems with discounting are established in Chap. 6. The results of Chaps. 5 and 6 are new. The second class of problems is studied in Chaps. 7–9. In Chap. 7 we study the turnpike properties. The stability of the turnpike phenomenon under small perturbations of the objective functions is established in Chap. 8. In Chap. 9 we establish the stability of the turnpike phenomenon under small perturbations of the objective functions and the constraint maps. The results of Chaps. 8 and 9 are new. In Chap. 10 we study optimal control problems related to a model of knowledge-based endogenous economic growth and show the existence of trajectories of unbounded economic growth and provide estimates for the growth rate.
Development And Application Of Optimal Control Techniques For A Socio Economic System
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Author : James Franklin Stewart
language : en
Publisher:
Release Date : 1974
Development And Application Of Optimal Control Techniques For A Socio Economic System written by James Franklin Stewart and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1974 with Economics categories.
Global Asymptotic Stability Of Optimal Control Systems With Applications To The Theory Of Economic Growth
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Author : William A. Brock
language : en
Publisher:
Release Date : 1974
Global Asymptotic Stability Of Optimal Control Systems With Applications To The Theory Of Economic Growth written by William A. Brock and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1974 with categories.
Dissertation Abstracts International
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Author :
language : en
Publisher:
Release Date : 1994
Dissertation Abstracts International written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Dissertations, Academic categories.
The Middle East Abstracts And Index
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Author :
language : en
Publisher:
Release Date : 2005
The Middle East Abstracts And Index written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Middle East categories.
Game Theory
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Author : Drew Fudenberg
language : en
Publisher: MIT Press
Release Date : 1991-08-29
Game Theory written by Drew Fudenberg and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-08-29 with Business & Economics categories.
This advanced text introduces the principles of noncooperative game theory in a direct and uncomplicated style that will acquaint students with the broad spectrum of the field while highlighting and explaining what they need to know at any given point. This advanced text introduces the principles of noncooperative game theory—including strategic form games, Nash equilibria, subgame perfection, repeated games, and games of incomplete information—in a direct and uncomplicated style that will acquaint students with the broad spectrum of the field while highlighting and explaining what they need to know at any given point. The analytic material is accompanied by many applications, examples, and exercises. The theory of noncooperative games studies the behavior of agents in any situation where each agent's optimal choice may depend on a forecast of the opponents' choices. "Noncooperative" refers to choices that are based on the participant's perceived selfinterest. Although game theory has been applied to many fields, Fudenberg and Tirole focus on the kinds of game theory that have been most useful in the study of economic problems. They also include some applications to political science. The fourteen chapters are grouped in parts that cover static games of complete information, dynamic games of complete information, static games of incomplete information, dynamic games of incomplete information, and advanced topics.
Optimal Control Theory With Applications In Economics
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Author : Thomas A. Weber
language : en
Publisher: MIT Press
Release Date : 2011-09-30
Optimal Control Theory With Applications In Economics written by Thomas A. Weber and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-09-30 with Business & Economics categories.
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.