Optimal Control Theory and Static Optimization in Economics - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Optimal Control Theory and Static Optimization in Economics write by Daniel Léonard. This book was released on 1992-01-31. Optimal Control Theory and Static Optimization in Economics available in PDF, EPUB and Kindle. 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.
Optimal Control Theory and Static Optimization in Economics
Optimal Control Theory and Static Optimization in Economics - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Optimal Control Theory and Static Optimization in Economics write by Daniel Léonard. This book was released on 1992-01-31. Optimal Control Theory and Static Optimization in Economics available in PDF, EPUB and Kindle. 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.
Optimal Control Theory and Static Optimization in Economics
Optimal Control Theory and Static Optimization in Economics - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Optimal Control Theory and Static Optimization in Economics write by D. Léonard. This book was released on 1998. Optimal Control Theory and Static Optimization in Economics available in PDF, EPUB and Kindle.
Dynamic Optimization, Second Edition
Dynamic Optimization, Second Edition - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Dynamic Optimization, Second Edition write by Morton I. Kamien. This book was released on 2013-04-17. Dynamic Optimization, Second Edition available in PDF, EPUB and Kindle. 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.
Optimal Control Theory with Applications in Economics
Optimal Control Theory with Applications in Economics - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Optimal Control Theory with Applications in Economics write by Thomas A. Weber. This book was released on 2011-09-30. Optimal Control Theory with Applications in Economics available in PDF, EPUB and Kindle. 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.
