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
Optimal control theory with economic applications
✍ Scribed by A. Seierstad, K. Sydsæter
- Publisher
- North-Holland
- Year
- 1987
- Tongue
- English
- Leaves
- 463
- Series
- Advanced textbooks in economics 24
- Edition
- 3rd
- Category
- Library
No coin nor oath required. For personal study only.
✦ Synopsis
This book serves not only as an introduction, but also as an advanced text and reference source in the field of deterministic optimal control systems governed by ordinary differential equations. It also includes an introduction to the classical calculus of variations. An important feature of the book is the inclusion of a large number of examples, in which the theory is applied to a wide variety of economics problems. The presentation of simple models helps illuminate pertinent qualitative and analytic points, useful when confronted with a more complex reality. These models cover: economic growth in both open and closed economies, exploitation of (non-) renewable resources, pollution control, behaviour of firms, and differential games. A great emphasis on precision pervades the book, setting it apart from the bulk of literature in this area. The rigorous techniques presented should help the reader avoid errors which often recur in the application of control theory within economics. <br
✦ Subjects
Автоматизация;Теория автоматического управления (ТАУ);Книги на иностранных языках;
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