Optimal Control System Theory In Dynamic Economic Analysis PDF Download
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Author | : Masanao Aoki |
Publisher | : North Holland |
Total Pages | : 400 |
Release | : 1976-01-01 |
Genre | : Economics |
ISBN | : 9780720486032 |
Download Optimal Control and System Theory in Dynamic Economic Analysis Book in PDF, ePub and Kindle
Author | : Thomas A. Weber |
Publisher | : MIT Press |
Total Pages | : 387 |
Release | : 2011-09-30 |
Genre | : Business & Economics |
ISBN | : 0262015730 |
Download Optimal Control Theory with Applications in Economics Book 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.
Author | : Michael R. Caputo |
Publisher | : Cambridge University Press |
Total Pages | : 632 |
Release | : 2005-01-10 |
Genre | : Business & Economics |
ISBN | : 1107717639 |
Download Foundations of Dynamic Economic Analysis Book in PDF, ePub and Kindle
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 | : Masano Aoki |
Publisher | : |
Total Pages | : 400 |
Release | : 1976 |
Genre | : |
ISBN | : |
Download Optimal Control and Systems Theory in Dynamic Economic Analysis Book in PDF, ePub and Kindle
Author | : Masanao Aoki |
Publisher | : Elsevier |
Total Pages | : 425 |
Release | : 1979-01-28 |
Genre | : Technology & Engineering |
ISBN | : 0323140793 |
Download New Trends In Dynamic Systems Theory And Economics Book in PDF, ePub and Kindle
New Trends in Dynamic System Theory and Economics contains selected papers presented at a two-week seminar on New Trends in Dynamic System Theory and Economics held at the International Center for Mechanical Sciences in Udine, Italy, on September 12-23, 1977. Contributors discuss recent trends in the application of dynamic system theory in economic analysis, paying particular attention to information patterns and uncertainty, optimal control theory and its application, and disequilibrium analysis. This book is divided into three sections and consists of 20 chapters. Decision problems of agents with different or imperfect information or under uncertainty are first discussed. This section gives a detailed analysis of the properties of Nash and Stackelberg equilibria in dynamic games under several different information patterns. Consideration is also given to microdecision problems of individual agents, macroeconomic stabilization of an uncertain dynamic economy, and the uncertainty of parameter values. The chapters that follow focus on recent advances in optimal control theory and application of control theory. Disequilibrium analysis of a macroeconomic model is presented, along with the dynamics of disequilibria of a macroeconomic model with flexible wages and prices. A generalization of Pareto optimality is used to discuss the connection between the optimality and stability problems in a general setting. The last three chapters explore ""modern"" approaches to tâtonnement processes. This book will be of interest to students and practitioners of applied mathematics and econometrics.
Author | : Aoki M. |
Publisher | : |
Total Pages | : 0 |
Release | : |
Genre | : |
ISBN | : |
Download Optimal Control System Theory In Dynamic Economic Analysis Book in PDF, ePub and Kindle
Author | : Gustav Feichtinger |
Publisher | : North Holland |
Total Pages | : 696 |
Release | : 1985 |
Genre | : Business & Economics |
ISBN | : |
Download Optimal Control Theory and Economic Analysis 2 Book in PDF, ePub and Kindle
Author | : Suresh P. Sethi |
Publisher | : Taylor & Francis US |
Total Pages | : 536 |
Release | : 2006 |
Genre | : Business & Economics |
ISBN | : 9780387280929 |
Download Optimal Control Theory Book in PDF, ePub and Kindle
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.
Author | : |
Publisher | : |
Total Pages | : |
Release | : 1873 |
Genre | : |
ISBN | : |
Download Betrachtungen eines Laien ueber die Confessionen mit spezieller Ruecksicht auf die augsburgische Confession Book in PDF, ePub and Kindle
Author | : Daniel Léonard |
Publisher | : Cambridge University Press |
Total Pages | : 372 |
Release | : 1992-01-31 |
Genre | : Business & Economics |
ISBN | : 9780521337465 |
Download Optimal Control Theory and Static Optimization in Economics Book 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.