Several areas of research in economics have motivated the development of ODE-constrained optimization, including optimal neoclassical growth. The refreshment of scalar control-scalar ODE case and of vector control-vector ODE case leads us to discrete maximum principle for an optimal growth problem and to an original optimal growth problem of convolution type. For analyzing and solving the last problem we describe three methods: calculus of variations method, optimal control method and frequency method. Of course, our point of view rises an important open question for economics: which growth phenomena are subject to convolution statement?
ODE-constrained optimal neoclassical growth / Ferrara M.; Guerrini L.; Udriste C.. - STAMPA. - (2009), pp. 115-119. (Intervento presentato al convegno Proceedings of the EUROPEAN COMPUTING CONFERENCE (ECC '09) tenutosi a Tbilisi, Georgia nel Giugno 26-28, 2009).
ODE-constrained optimal neoclassical growth
GUERRINI, LUCA;
2009
Abstract
Several areas of research in economics have motivated the development of ODE-constrained optimization, including optimal neoclassical growth. The refreshment of scalar control-scalar ODE case and of vector control-vector ODE case leads us to discrete maximum principle for an optimal growth problem and to an original optimal growth problem of convolution type. For analyzing and solving the last problem we describe three methods: calculus of variations method, optimal control method and frequency method. Of course, our point of view rises an important open question for economics: which growth phenomena are subject to convolution statement?I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
