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Dynamic optimization and economic applications by Ronald E. Miller

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Published by McGraw-Hill International Book Co. in New York, London .
Written in English

Subjects:

  • Mathematical optimization.,
  • Control theory.,
  • Economics -- Mathematical models.,
  • Regional planning -- Mathematical models.

Book details:

Edition Notes

Includes bibliographical references and indexes.

StatementRonald E. Miller.
Classifications
LC ClassificationsHB143 .M54
The Physical Object
Paginationx, 332 p. :
Number of Pages332
ID Numbers
Open LibraryOL4739710M
ISBN 100070421803
LC Control Number78040724

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An integrated approach to the empirical application of dynamic optimization programming models, for students and researchers. This book is an effective, concise text for students and researchers that combines the tools of dynamic programming with numerical techniques and simulation-based econometric methods. Doing so, it bridges the traditional Cited by: An integrated approach to the empirical application of dynamic optimization programming models, for students and researchers. This book is an effective, concise text for students and researchers that combines the tools of dynamic programming with numerical techniques and simulation-based econometric methods. Doing so, it bridges the traditional gap between theoretical and empirical . 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. CiteSeerX - Document Details (Isaac Councill, Lee Giles, Pradeep Teregowda): The unifying theme of this course is best captured by the title of our main reference book: ‘Recursive Methods in Economic Dynamics’. We start by covering deterministic and stochastic dynamic optimization using dynamic programming analysis. We then study the properties of the resulting dynamic systems.

dynamic asset allocation problem arising in finance, and the second is an infinite horizon deterministic optimal growth model arising in economics. Dynamic Portfolio Problems) and)⊤ ⊤, ⊤ ⊤)}. The most common dynamic optimization problems in economics and finance have the following common assumptions • timing: the state variable xt is usually a stock and is measured at the beginning of period t and the control ut is usually a flow and is measured in the end of period t; • horizon: can be finite or is infinite (T = ∞). Economic Applications (Recursive Methods) Economics Department Spring The unifying theme of this course is best captured by the title of our main reference book: ‘Recursive Methods in Economic Dynamics’. We start by covering deterministic and stochastic dynamic optimization using dynamic programming analysis. We then study the. This course focuses on dynamic optimization methods, both in discrete and in continuous time. We approach these problems from a dynamic programming and optimal control perspective. We also study the dynamic systems that come from the solutions to these problems. The course will illustrate how these techniques are useful in various applications, drawing on many economic examples.

Get this from a library! Dynamic optimization and economic applications. [Ronald E Miller]. Foundations of Dynamic Economic Analysis presents a modern and thorough exposition of the fundamental mathematical formalism used to study optimal control theory, i.e., continuous time dynamic economic processes, and to interpret dynamic economic behavior. This book includes a collection of articles that present recent developments in the fields of optimization and dynamic game theory, economic dynamics, dynamic theory of the firm, and population dynamics and non standard applications of optimal control theory. Foundations of Dynamic Economic Analysis presents an introductory but thorough exposition of optimal control theory. It is aimed at first-year and second-year PhD students in economics, agricultural and resource economics, operations research, management science, and applied by: