Optimal Control Theory and Static Optimization in Economics

Daniel Leonard, Ngo Van Long, Daniel L. Onard

ISBN 10: 0521331587 / ISBN 13: 9780521331586

Verlag: Cambridge University Press, 2009

Beschreibung

Zustand: Gut | Sprache: Englisch | Produktart: Bücher.

Bestandsnummer des Verkäufers 5220963/203

Bibliografische Details

• Titel: Optimal Control Theory and Static Optimization in Economics
• Verlag: Cambridge University Press
• Erscheinungsjahr: 2009
• Sprache: Englisch
• ISBN-10: 0521331587
• ISBN-13: 9780521331586
• Einband: Hardcover
• Zustand: Gut
• Verkäuferkataloge:
  • Bücher

Über diesen Titel

Inhaltsangabe

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.

Über die Autorin bzw. den Autor

Charlotte y Peter Fiell son dos autoridades en historia, teoría y crítica del diseño y han escrito más de sesenta libros sobre la materia, muchos de los cuales se han convertido en éxitos de ventas. También han impartido conferencias y cursos como profesores invitados, han comisariado exposiciones y asesorado a fabricantes, museos, salas de subastas y grandes coleccionistas privados de todo el mundo. Los Fiell han escrito numerosos libros para TASCHEN, entre los que se incluyen 1000 Chairs, Diseño del siglo XX, El diseño industrial de la A a la Z, Scandinavian Design y Diseño del siglo XXI.