Optimal Control Theory and Static Optimization in Economics

Name: Optimal Control Theory and Static Optimization in Economics
Price: 71.0 USD
Availability: InStock
ISBN: 9780521337465

ISBN-10: 0521337461

ISBN-13: 9780521337465

Edition: 1992

Authors: Ngo van Long, Daniel Lï¿½onard

List price: $94.99

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Description:

Optimal control theory is a technique being used increasingly by academic economists to study problems involving optimal decisions in a multi-period framework. This book is designed to make the difficult subject of optimal control theory easily accessible to economists while at the same time maintaining rigor. Economic intuition is emphasized, examples and problem sets covering a wide range of applications in economics are provided, theorems are clearly stated and their proofs are carefully explained. The development of the text is gradual and fully integrated, beginning with the simple formulations and progressing to advanced topics. Optimal control theory is introduced directly, without…

Book details

List price: $94.99
Copyright year: 1992
Publisher: Cambridge University Press
Publication date: 1/31/1992
Binding: Paperback
Pages: 368
Size: 5.98" wide x 9.02" long x 0.83" tall
Weight: 1.100
Language: English




Static optimization



Ordinary differential equations



Introduction to dynamic optimization



The Maximum principle



Connections with the calculus of variations and dynamic programming



The constrained control problem



Endpoint constraints and transversality conditions



Discontinuities in the optimal controls



Infinity horizon problems



Three special topics