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

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ISBN-10: 048648856X

ISBN-13: 9780486488561

Edition: 2nd 2012

Authors: Morton I. Kamien, Nancy L. Schwartz

List price: $33.75
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Description:

An excellent financial research tool, this celebrated classic focuses on the methods of solving continuous time problems. The two-part treatment covers the calculus of variations and optimal control. In the decades since its initial publication, this text has defined dynamic optimization courses taught to economics and management science students. 1998 edition.
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Book details

List price: $33.75
Edition: 2nd
Copyright year: 2012
Publisher: Dover Publications, Incorporated
Publication date: 11/21/2012
Binding: Paperback
Pages: 400
Size: 6.50" wide x 9.25" long x 1.00" tall
Weight: 1.100
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