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

By: Caputo, Michael Ralph.
Material type: TextTextPublisher: Cambridge, UK ; New York : Cambridge University Press, 2005Description: xii, 579 p. : ill. ; 25 cm.ISBN: 0521842727; 0521603684 (pbk.); 9780521842723.Subject(s): Economics -- Mathematical models | Control theory | Mathematical optimizationDDC classification: 330.01515642 Online resources: WorldCat details
Contents:
Table of contents 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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Item type Current location Collection Call number Copy number Status Date due Barcode Item holds
Text Text EWU Library
Reserve Section
Non-fiction 330.01515642 CAF 2005 (Browse shelf) C-1 Not For Loan 19628
Total holds: 0
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330.0151 MAT 2006 Mathematics for economics / 330.0151 MAT 2011 Mathematics for economics / 330.0151 MOQ 2000 Quantitative methods for business and economics / 330.01515642 CAF 2005 Foundations of dynamic economic analysis : 330.01518282 BAI 2006 Introductory econometrics : 330.015193 VEE 2003 Economics and the theory of games / 330.015195 ADD 2003 Dynamic economics :

Includes bibliographical references and index.

Table of contents 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...

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