Optimal Control Theory with Economic Applications: Volume 24

Optimal Control Theory with Economic Applications: Volume 24

Description

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.


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Details

Author(s)
Atle Seierstad, Knut Sydsaeter
Format
Hardback | 462 pages
Dimensions
162.05 x 230.12 x 23.88mm | 860g
Publication date
15 Feb 1987
Publisher
ELSEVIER SCIENCE & TECHNOLOGY
Imprint
North-Holland
Publication City/Country
Amsterdam, Netherlands, United States
Language
English
ISBN10
0444879234
ISBN13
9780444879233
Bestsellers rank
1,646,237