Dynamic Optimization and Mathematical Economics by Pan-Tai Liu
  

Synopsis

Dynamic Optimization and Mathematical Economics by Pan-Tai Liu

As an outgrowth of the advancement in modern control theory during the past 20 years, dynamic modeling and analysis of economic systems has become an important subject in the study of economic theory. Recent developments in dynamic utility, economic planning, and profit optimiza- tion, for example, have been greatly influenced by results in optimal control, stabilization, estimation, optimization under conflicts, multi- criteria optimization, control of large-scale systems, etc. The great success that has been achieved so far in utilizing modern control theory in economic systems should be attributed to the effort of control theorists as well as economists. Collaboration between the two groups of researchers has proven to be most successful in many instances; nevertheless, the gap between them has existed for some time. Whereas a control theorist frequently sets up a mathematically feasible model to obtain results that permit economic interpretations, an economist is concerned more with the fidelity of the model in representing a real- world problem, and results that are obtained (through possibly less mathematical analysis) are due largely to economic insight. The papers appearing in this volume are divided into three parts. In Part I there are five papers on the application of control theory to economic planning. Part II contains five papers on exploration, exploita- tion, and pricing of extractive natural resources. Finally, in Part III, some recent advances in large-scale systems and decentralized control appear.

About the Author

Other Formats

Book Info

Format

Hardback
269 pages

Author

Pan-Tai Liu
More books by Pan-Tai Liu

Publisher

Kluwer Academic/Plenum Publishers an imprint of Springer Science+Business Media

Publication date

1st March 1980

ISBN

9780306402456


I love Lovereading as it provides an honest opinion and showcases a range of fiction. Suited to both parents & kids alike, it’s a must-use.

Georgie Rowe – age 16

Lovereading4kids is great, we get books really early never late. We love to read and review, and think you would like it too. The excitement

Jasmine Harris-Hart, age 12

This company is amazing; not only is it is a great opportunity to get books and review them but everyone is so friendly and supportive!

Jemma Rubens, age 10

LoveReading4Kids is a modern and creative way of emphasising the value and importance of books in this digital age #booksforlife

Amrit Bunet – Teen

It’s really exciting to read and review new books, thrilling to see my reviews online and I love finding the final published copies on sale.

Sam Harper – age 10

You give me age appropriate ideas of books I can read and buy for the children and find out what other children their age think of them too.

Katie Lonsdale

I love ‘LoveReading 4 kids’ because they let you read and learn things you’d never dreamed of learning before.

Emily Horncastle – age 11

I think Lovereading4kids is an amazing company because of the friendly staff and the fabulous chance to read great books before publication.

Adam Graham
Lovereading

Lovereading 4 schools