Dynamic Optimization The Calculus of Variations and Optimal Control in Economics and Management

ISBN-10: 0444016090

ISBN-13: 9780444016096

Edition: 2nd 1991 (Revised)

List price: $72.95
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Description: The long awaited second edition of Dynamic Optimization is now available. Clear exposition and numerous worked examples made the first edition the premier text on this subject. Now, the new edition is expanded and updated to include essential coverage of current developments on differential games, especially as they apply to important economic questions; new developments in comparative dynamics; and new material on optimal control with integral state equations. The second edition of Dynamic Optimization provides expert coverage on:- methods of calculus of variations - optimal control - continuous dynamic programming - stochastic optimal control -differential games. The authors also include appendices on static optimization and on differential games. Now in its new updated and expanded edition, Dynamic Optimization is, more than ever, the optimum choice for graduate and advanced undergraduate courses in economics, mathematical methods in economics and dynamic optimization, management science, mathematics and engineering. New features of Dynamic Optimization will show students:advances in how to do comparative dynamics; how to optimally switch from one state equation to another during the planning period; how to take into account the history of the system governing an optimization problem through the use of an integral state equation; and how to apply differential games to problems in economics and management sciences.

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Book details

List price: $72.95
Edition: 2nd
Copyright year: 1991
Publisher: Elsevier Science & Technology Books
Publication date: 10/11/1991
Binding: Hardcover
Pages: 396
Size: 6.25" wide x 9.25" long x 0.75" tall
Weight: 1.694
Language: English

Preface to the Fourth Printing
Preface to the Second Edition
Preface to the First Edition
Calculus of Variations
Introduction
Example Solved
Simplest Problem-Euler Equation
Examples and Interpretations
Solving the Euler Equation in Special Cases
Second Order Conditions
Isoperimetric Problem
Free End Value
Free Horizon-Transversality Conditions
Equality Constrained Endpoint
Salvage Value
Inequality Constraint Endpoints and Sensitivity Analysis
Corners
Inequality Constraints in (t, x)
Infinite Horizon Autonomous Problems
Most Rapid Approach Paths
Diagrammatic Analysis
Several Functions and Double Integrals
Optimal Control
Introduction
Simplest Problem-Necessary Conditions
Sufficiency
Interpretations
Several Variables
Fixed Endpoint Problems
Various Endpoint Conditions
Discounting, Current Values, Comparative Dynamics
Equilibria in Infinite Horizon Autonomous Problems
Bounded Controls
Further Control Constraint
Discontinuous and Bang-Bang Control
Singular Solutions and Most Rapid Approach Paths
The Pontryagin Maximum Principle, Existence
Further Sufficiency Theorems
Alternative Formulations
State Variable Inequality Constraints
Jumps in the State Variable, Switches in State Equations
Delayed Response
Optimal Control with Integral State Equations
Dynamic Programming
Stochastic Optimal Control
Differential Games
Calculus and Nonlinear Programming
Calculus Techniques
Mean-Value Theorems
Concave and Convex Functions
Maxima and Minima
Equality Constrained Optimization
Inequality Constrained Optimization
Line Integrals and Green's Theorem
Differential Equations
Introduction
Linear First Order Differential Equations
Linear Second Order Differential Equations
Linear nth Order Differential Equations
A Pair of Linear Equations
Existence and Uniqueness of Solutions
References
Author Index
Subject Index
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