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| Author | : Princeton University. Econometric Research Program |
| Publisher | : |
| Total Pages | : 38 |
| Release | : 1971 |
| Genre | : Econometrics |
| ISBN | : |
| Author | : Gregory C. Chow |
| Publisher | : |
| Total Pages | : 20 |
| Release | : 1971 |
| Genre | : Economics, Mathematical |
| ISBN | : |
| Author | : Michael Ralph Caputo |
| Publisher | : Cambridge University Press |
| Total Pages | : 596 |
| Release | : 2005-01-17 |
| Genre | : Business & Economics |
| ISBN | : 9780521603683 |
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.
| Author | : Alan S. Blinder |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 1971 |
| Genre | : Econometrics |
| ISBN | : |
| Author | : Gregory C. Chow |
| Publisher | : John Wiley & Sons |
| Total Pages | : 340 |
| Release | : 1975-03-04 |
| Genre | : Business & Economics |
| ISBN | : |
ANALYSIS OF DYNAMIC ECONOMIC SYSTEMS; CONTROL OF DYNAMIC ECONOMIC SYSTEMS.
| Author | : Herbert Dawid |
| Publisher | : Springer Nature |
| Total Pages | : 244 |
| Release | : 2020-12-22 |
| Genre | : Business & Economics |
| ISBN | : 3030529703 |
This book analyses decision-making in dynamic economic environments. By applying a wide range of methodological approaches, combining both analytical and computational methods, the contributors examine various aspects of optimal firm behaviour and relevant policy areas. Topics covered include optimal control, dynamic games, economic decision-making, and applications in finance and economics, as well as policy implications in areas such as pollution regulation. This book is dedicated to Christophe Deissenberg, a well-known and distinguished scholar of economic dynamics and computational economics. It appeals to academics in the areas of optimal control, dynamic games and computational economics as well as to decision-makers working in policy domains such as environmental policy.
| Author | : Martin F. Bach |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 155 |
| Release | : 2013-11-11 |
| Genre | : Business & Economics |
| ISBN | : 364286449X |
Dynamic Programming is the analysis of multistage decision in the sequential mode. It is now widely recognized as a tool of great versatility and power, and is applied to an increasing extent in all phases of economic analysis, operations research, technology, and also in mathematical theory itself. In economics and operations research its impact may someday rival that of linear programming. The importance of this field is made apparent through a growing number of publications. Foremost among these is the pioneering work of Bellman. It was he who originated the basic ideas, formulated the principle of optimality, recognized its power, coined the terminology, and developed many of the present applications. Since then mathe maticians, statisticians, operations researchers, and economists have come in, laying more rigorous foundations [KARLIN, BLACKWELL], and developing in depth such application as to the control of stochastic processes [HoWARD, JEWELL]. The field of inventory control has almost split off as an independent branch of Dynamic Programming on which a great deal of effort has been expended [ARRoW, KARLIN, SCARF], [WIDTIN] , [WAGNER]. Dynamic Programming is also playing an in creasing role in modem mathematical control theory [BELLMAN, Adap tive Control Processes (1961)]. Some of the most exciting work is going on in adaptive programming which is closely related to sequential statistical analysis, particularly in its Bayesian form. In this monograph the reader is introduced to the basic ideas of Dynamic Programming.
| Author | : Gerhard Tintner |
| Publisher | : Elsevier |
| Total Pages | : 328 |
| Release | : 2014-05-10 |
| Genre | : Mathematics |
| ISBN | : 1483274020 |
Stochastic Economics: Stochastic Processes, Control, and Programming presents some aspects of economics from a stochastic or probabilistic point of view. The application of stochastic processes to the theory of economic development, stochastic control theory, and various aspects of stochastic programming is discussed. Comprised of four chapters, this book begins with a short survey of the stochastic view in economics, followed by a discussion on discrete and continuous stochastic models of economic development. The next chapter focuses on methods of stochastic control and their application to dynamic economic models, with emphasis on those aspects connected especially with the theory of quantitative economic policy. Some basic operational problems of applying stochastic control, particularly in economic systems and organizations for problems such as dynamic resource allocation, growth planning, and economic coordination are considered. The last chapter is devoted to stochastic programming, paying particular attention to the decision rule theory of operations research under the chance-constrained model and a method of incorporating reliability measures into a systems reliability model. This book will be of interest to economists, statisticians, applied mathematicians, operations researchers, and systems engineers.
| Author | : Pan-Tai Liu |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 273 |
| Release | : 2013-03-09 |
| Genre | : Science |
| ISBN | : 1468435728 |
As an outgrowth of the advancement in modern control theory during the past 20 years, dynamic modeling and analysis of economic systems has become an important subject in the study of economic theory. Recent developments in dynamic utility, economic planning, and profit optimiza tion, for example, have been greatly influenced by results in optimal control, stabilization, estimation, optimization under conflicts, multi criteria optimization, control of large-scale systems, etc. The great success that has been achieved so far in utilizing modern control theory in economic systems should be attributed to the effort of control theorists as well as economists. Collaboration between the two groups of researchers has proven to be most successful in many instances; nevertheless, the gap between them has existed for some time. Whereas a control theorist frequently sets up a mathematically feasible model to obtain results that permit economic interpretations, an economist is concerned more with the fidelity of the model in representing a real world problem, and results that are obtained (through possibly less mathematical analysis) are due largely to economic insight. The papers appearing in this volume are divided into three parts. In Part I there are five papers on the application of control theory to economic planning. Part II contains five papers on exploration, exploita tion, and pricing of extractive natural resources. Finally, in Part III, some recent advances in large-scale systems and decentralized control appear.
| Author | : Roy E. Murphy |
| Publisher | : Elsevier |
| Total Pages | : 226 |
| Release | : 2016-06-03 |
| Genre | : Mathematics |
| ISBN | : 1483264076 |
Mathematics in Science and Engineering, Volume 20, Adaptive Processes in Economic Systems demonstrates the usefulness of communications theory, self-adaptive control theory, and thermodynamic theory to certain economic processes. This book discusses the common properties of adaptive processes, role of the decision maker, and mixed adaptive processes of the first and second kind. The economic environmental processes, concept of entropy time, and stochastic dynamic economic process are also elaborated. This text likewise covers the investment model with full liquidity, adaptive capital allocation process, and concept of an economic state space. Other topics include the stochastic equilibrium in the market and individual adaptive behavior. This volume is suitable for engineers, economists, and specialists of disciplines related to economic systems.
