Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Optimal Control Theory with Economic Applications: Volume 24

Optimal Control Theory with Economic Applications: Volume 24

Seierstad, A.

Hardcover

Series: Advanced Textbooks in Economics, Book 24

EconomicsMedical ReferenceTechnology & Engineering

ISBN10: 0444879234
ISBN13: 9780444879233
Publisher: North-Holland
Published: Feb 1 1987
Pages: 472
Weight: 1.87
Height: 0.94 Width: 6.38 Depth: 9.06
Language: English
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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