Optimal Control Theory and Static Optimization in Economics

Optimal Control Theory and Static Optimization in Economics
By:Daniel Léonard,Ngo van Long,Ngo van (McGill University Long, Montreal),Ngo, Van Long
Published on 1992-01-31 by Cambridge University Press

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 recourse to the calculus of variations, and the connection with the latter and with dynamic programming is explained in a separate chapter. Also, the book draws the parallel between optimal control theory and static optimization. No previous knowledge of differential equations is required.

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Book ID of Optimal Control Theory and Static Optimization in Economics's Books is gSHxK5Cq4BgC, Book which was written byDaniel Léonard,Ngo van Long,Ngo van (McGill University Long, Montreal),Ngo, Van Longhave ETAG "c87yTqqF8G8"

Book which was published by Cambridge University Press since 1992-01-31 have ISBNs, ISBN 13 Code is 9780521337465 and ISBN 10 Code is 0521337461

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