Description: Optimal Control Theory and Static Optimization in EconomicsDaniel Leonard Cambridge University Press Paperback Unused and unread, minor cosmetic imperfections such as scuffing or minor creasing. Stamped 'damaged' by publisher to a non-text page. EAN: 9780521337465 Published 20/12/2010 Language: English 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. 1. Static optimization 2. Ordinary differential equations 3. Introduction to dynamic optimization 4. The Maximum principle 5. Connections with the calculus of variations and dynamic programming 6. The constrained control problem 7. Endpoint constraints and transversality conditions 8. Discontinuities in the optimal controls 9. Infinity horizon problems 10. Three special topics. DispatchIn stock here - same-day dispatch from England. My SKU: 3252769RefundsNo-hassle refunds are always available if your book is not as expected.Terms and Conditions of SaleSorry - no collections. All sales are subject to extended Terms and Conditions of Sale as well as the Return Policy and Payment Instructions. Visit my eBay Store for details andmany more books. Template layout and design, "JNC Academic Books", "needbooks", Copyright © JNC INC. Designated trademarks, layouts and brands are the property of their respective owners. All Rights Reserved.
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Title: Optimal Control Theory and Static Optimization in Economics
ISBN: 0521337461
Pages: 366
Number of Pages: 368 Pages
Language: English
Publication Name: Optimal Control Theory and Static Optimization in Economics
Publisher: Cambridge University Press
Publication Year: 1992
Subject: Economics
Item Height: 229 mm
Item Weight: 495 g
Type: Textbook
Author: Daniel Leonard, Ngo Van Long
Item Width: 152 mm
Format: Paperback
