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OPTIMAL CONTROL THEORY WITH ECONOMIC APPLICATIONS
Optimal Control Theory with Economic Applications

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By
A. Seierstad
K. Sydsæter

Included in series
Advanced Textbooks in Economics, 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.

Contents
Calculus of Variations. Optimal Control Theory Without Restrictions On The State Variables. Extensions. Mixed Constraints. Pure State Constraints. Mixed and Pure State Constraints.

Bibliographic details
Hardbound, 462 pages, publication date: FEB-1987
ISBN-13: 978-0-444-87923-3
ISBN-10: 0-444-87923-4
Imprint: NORTH-HOLLAND

Price and Ordering
Price:
EUR 98.95
USD 138
GBP 83.99
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Last update: 4 Sep 2009
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