Optimal Control Theory and Static Optimization in Economics - Couverture rigide

Léonard, Daniel; Long, Ngo Van

 
9780521331586: Optimal Control Theory and Static Optimization in Economics
Couverture rigide
ISBN 10 : 0521331587 ISBN 13 : 9780521331586
Editeur : Cambridge University Press, 1992

Synopsis

Optimal control theory is a technique being used increasingly by academic economists to study problems involving optimal decisions in a multi-period framework. This textbook is designed to make the difficult subject of optimal control theory easily accessible to economists while at the same time maintaining rigour. Economic intuitions are emphasized, and examples and problem sets covering a wide range of applications in economics are provided to assist in the learning process. Theorems are clearly stated and their proofs are carefully explained. The development of the text is gradual and fully integrated, beginning with simple formulations and progressing to advanced topics such as control parameters, jumps in state variables, and bounded state space. For greater economy and elegance, optimal control theory is introduced directly, without recourse to the calculus of variations. The connection with the latter and with dynamic programming is explained in a separate chapter. A second purpose of the book is to draw the parallel between optimal control theory and static optimization. Chapter 1 provides an extensive treatment of constrained and unconstrained maximization, with emphasis on economic insight and applications. Starting from basic concepts, it derives and explains important results, including the envelope theorem and the method of comparative statics. This chapter may be used for a course in static optimization. The book is largely self-contained. No previous knowledge of differential equations is required.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Product Description

3

Présentation de l'éditeur

Optimal control theory is a technique being used increasingly by academic economists to study problems involving optimal decisions in a multi-period framework. This textbook is designed to make the difficult subject of optimal control theory easily accessible to economists while at the same time maintaining rigour. Economic intuitions are emphasized, and examples and problem sets covering a wide range of applications in economics are provided to assist in the learning process. Theorems are clearly stated and their proofs are carefully explained. The development of the text is gradual and fully integrated, beginning with simple formulations and progressing to advanced topics such as control parameters, jumps in state variables, and bounded state space. For greater economy and elegance, optimal control theory is introduced directly, without recourse to the calculus of variations. The connection with the latter and with dynamic programming is explained in a separate chapter. A second purpose of the book is to draw the parallel between optimal control theory and static optimization. Chapter 1 provides an extensive treatment of constrained and unconstrained maximization, with emphasis on economic insight and applications. Starting from basic concepts, it derives and explains important results, including the envelope theorem and the method of comparative statics. This chapter may be used for a course in static optimization. The book is largely self-contained. No previous knowledge of differential equations is required.

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
Cambridge University Press
Date d'édition
1992
Langue
anglais
ISBN 10 
0521331587
ISBN 13 
9780521331586
Reliure
Relié
Nombre de pages
368
Coordonnées du fabricant
Cambridge University Press
https://www.cambridge.org/

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Pomezia
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Autres éditions populaires du même titre

9780521337465: Optimal Control Theory and Static Optimization in Economics

Edition présentée

ISBN 10 :  0521337461 ISBN 13 :  9780521337465
Editeur : Cambridge University Press, 2010
Couverture souple