Foundations of dynamic economic analysis : optimal control theory and applications / Michael R. Caputo.

By: Caputo, Michael Ralph Material type: Text

TextLanguage: English Publication details: Cambridge, UK ; New York : Cambridge University Press, 2005. Description: xii, 579 p. : ill. ; 25 cmISBN: 0521842727; 0521603684 (pbk.); 9780521842723Subject(s): Economics -- Mathematical models | Control theory | Mathematical optimizationDDC classification: 330.01515642 LOC classification: HB135 | .C27 2005Online resources: WorldCat details

Contents:

TOC Foreword / Eugene Silberberg -- Essential Elements of Continuous Time Dynamic Optimization -- Necessary Conditions for a Simplified Control Problem -- Concavity and Sufficiency in Optimal Control Problems -- The Maximum Principle and Economic Interpretations -- Linear Optimal Control Problems -- Necessary and Sufficient Conditions for a General Class of Control Problems -- Necessary and Sufficient Conditions for Isoperimetric Problems -- Economic Characterization of Reciprocal Isoperimetric Problems -- The Dynamic Envelope Theorem and Economic Interpretations -- The Dynamic Envelope Theorem and Transversality Conditions -- Comparative Dynamics via Envelope Methods -- Discounting, Current Values, and Time Consistency -- Local Stability and Phase Portraits of Autonomous Differential Equations -- Necessary and Sufficient Conditions for Infinite Horizon Control Problems -- The Neoclassical Optimal Economic Growth Model -- A Dynamic Limit Pricing Model of the Firm -- The Adjustment Cost Model of the Firm -- Qualitative Properties of Infinite Horizon Optimal Control Problems with One State Variable and One Control Variable -- Dynamic Programming and the Hamilton-Jacobi-Bellman Equation -- Intertemporal Duality in the Adjustment Cost Model of the Firm.

Summary: Summary: "Foundations of Dynamic Economic Analysis presents a modern and thorough exposition of the fundamental mathematical formalism used to study continuous time dynamic economic processes and to interpret dynamic economic behavior, namely, optimal control theory. The style of presentation, with its continual emphasis on the economic interpretation of mathematics and models, distinguishes it from several other excellent Read more...

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Holdings
Item type	Current library	Collection	Call number	Copy number	Status	Date due	Barcode	Item holds
Text	Dr. S. R. Lasker Library, EWU Reserve Section	Non-fiction	330.01515642 CAF 2005 (Browse shelf(Opens below))	C-1	Not For Loan		19628

Total holds: 0

Includes bibliographical references and index.

TOC Foreword / Eugene Silberberg --
Essential Elements of Continuous Time Dynamic Optimization --
Necessary Conditions for a Simplified Control Problem --
Concavity and Sufficiency in Optimal Control Problems --
The Maximum Principle and Economic Interpretations --
Linear Optimal Control Problems --
Necessary and Sufficient Conditions for a General Class of Control Problems --
Necessary and Sufficient Conditions for Isoperimetric Problems --
Economic Characterization of Reciprocal Isoperimetric Problems --
The Dynamic Envelope Theorem and Economic Interpretations --
The Dynamic Envelope Theorem and Transversality Conditions --
Comparative Dynamics via Envelope Methods --
Discounting, Current Values, and Time Consistency --
Local Stability and Phase Portraits of Autonomous Differential Equations --
Necessary and Sufficient Conditions for Infinite Horizon Control Problems --
The Neoclassical Optimal Economic Growth Model --
A Dynamic Limit Pricing Model of the Firm --
The Adjustment Cost Model of the Firm --
Qualitative Properties of Infinite Horizon Optimal Control Problems with One State Variable and One Control Variable --
Dynamic Programming and the Hamilton-Jacobi-Bellman Equation --
Intertemporal Duality in the Adjustment Cost Model of the Firm.

Summary:
"Foundations of Dynamic Economic Analysis presents a modern and thorough exposition of the fundamental mathematical formalism used to study continuous time dynamic economic processes and to interpret dynamic economic behavior, namely, optimal control theory. The style of presentation, with its continual emphasis on the economic interpretation of mathematics and models, distinguishes it from several other excellent Read more...

Economics

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