Optimal control theory: applications to management science and economics
This fully revised 3rd edition offers an introduction to optimal control theory and its diverse applications in management and economics. It brings to students the concept of the maximum principle in continuous and discrete time by using dynamic programming and Kuhn-Tucker theory. While some mathema...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cham, Switzerland
Springer
[2019]
|
| Ausgabe: | Third edition |
| Schlagworte: | |
| Zusammenfassung: | This fully revised 3rd edition offers an introduction to optimal control theory and its diverse applications in management and economics. It brings to students the concept of the maximum principle in continuous and discrete time by using dynamic programming and Kuhn-Tucker theory. While some mathematical background is needed, the emphasis of the book is not on mathematical rigor, but on modeling realistic situations faced in business and management. The book exploits optimal control theory to the functional areas of management science including finance, production and marketing and to economics of growth and of natural resources. In addition, this new edition features materials on stochastic Nash and Stackelberg differential games and an adverse selection model in the principal-agent framework. The book provides exercises for each chapter and answers to selected exercises to help deepen the understanding of the material presented. Also included are appendices comprised of supplementary material on the solution of differential equations, the calculus of variations and its relationships to the maximum principle, and special topics including the Kalman filter, certainty equivalence, singular control, a global saddle point theorem, Sethi-Skiba points, and distributed parameter systems. Optimal control methods are used to determine optimal ways to control a dynamic system. The theoretical work in this field serves as a foundation for the book, which the author has applied to business management problems developed from his research and classroom instruction. The new edition has been completely refined and brought up to date. Ultimately this should continue to be a valuable resource for graduate courses on applied optimal control theory, but also for financial and industrial engineers, economists, and operational researchers concerned with the application of dynamic optimization in their fields |
| Beschreibung: | Previous edition: 2000 |
| Beschreibung: | xxvii, 565 Seiten 25 cm |
| ISBN: | 3319982362 9783319982366 |
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| 505 | 8 | |a 1. What Is Optimal Control Theory? -- 2. The Maximum Principle: Continuous Time -- 3. The Maximum Principle: Mixed Inequality Constraints -- 4. The Maximum Principle: Pure State and Mixed Inequality Constraints -- 5. Applications to Finance -- 6. Applications to Production and Inventory -- 7. Applications to Marketing -- 8. The Maximum Principle: Discrete Time -- 9. Maintenance and Replacement -- 10. Applications to Natural Resources -- 11. Applications to Economics -- 12. Stochastic Optimal Control -- 13. Differential Games -- A. Solutions of Linear Differential Equations -- B. Calculus of Variations and Optimal Control Theory -- C. An Alternative Derivation of the Maximum Principle -- D. Special Topics in Optimal Control -- E. Answers to Selected Exercises | |
| 520 | 3 | |a This fully revised 3rd edition offers an introduction to optimal control theory and its diverse applications in management and economics. It brings to students the concept of the maximum principle in continuous and discrete time by using dynamic programming and Kuhn-Tucker theory. While some mathematical background is needed, the emphasis of the book is not on mathematical rigor, but on modeling realistic situations faced in business and management. The book exploits optimal control theory to the functional areas of management science including finance, production and marketing and to economics of growth and of natural resources. In addition, this new edition features materials on stochastic Nash and Stackelberg differential games and an adverse selection model in the principal-agent framework. The book provides exercises for each chapter and answers to selected exercises to help deepen the understanding of the material presented. Also included are appendices comprised of supplementary material on the solution of differential equations, the calculus of variations and its relationships to the maximum principle, and special topics including the Kalman filter, certainty equivalence, singular control, a global saddle point theorem, Sethi-Skiba points, and distributed parameter systems. Optimal control methods are used to determine optimal ways to control a dynamic system. The theoretical work in this field serves as a foundation for the book, which the author has applied to business management problems developed from his research and classroom instruction. The new edition has been completely refined and brought up to date. Ultimately this should continue to be a valuable resource for graduate courses on applied optimal control theory, but also for financial and industrial engineers, economists, and operational researchers concerned with the application of dynamic optimization in their fields | |
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| author | Sethi, Suresh P. |
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| bvnumber | BV046861141 |
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| contents | 1. What Is Optimal Control Theory? -- 2. The Maximum Principle: Continuous Time -- 3. The Maximum Principle: Mixed Inequality Constraints -- 4. The Maximum Principle: Pure State and Mixed Inequality Constraints -- 5. Applications to Finance -- 6. Applications to Production and Inventory -- 7. Applications to Marketing -- 8. The Maximum Principle: Discrete Time -- 9. Maintenance and Replacement -- 10. Applications to Natural Resources -- 11. Applications to Economics -- 12. Stochastic Optimal Control -- 13. Differential Games -- A. Solutions of Linear Differential Equations -- B. Calculus of Variations and Optimal Control Theory -- C. An Alternative Derivation of the Maximum Principle -- D. Special Topics in Optimal Control -- E. Answers to Selected Exercises |
| ctrlnum | (OCoLC)1097883047 (DE-599)BVBBV046861141 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| edition | Third edition |
| format | Book |
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| id | DE-604.BV046861141 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T15:12:57Z |
| indexdate | 2024-07-10T08:55:51Z |
| institution | BVB |
| isbn | 3319982362 9783319982366 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-032269785 |
| oclc_num | 1097883047 |
| open_access_boolean | |
| owner | DE-11 |
| owner_facet | DE-11 |
| physical | xxvii, 565 Seiten 25 cm |
| publishDate | 2019 |
| publishDateSearch | 2019 |
| publishDateSort | 2019 |
| publisher | Springer |
| record_format | marc |
| spelling | Sethi, Suresh P. Verfasser aut Optimal control theory applications to management science and economics Suresh P. Sethi Third edition Cham, Switzerland Springer [2019] xxvii, 565 Seiten 25 cm txt rdacontent n rdamedia nc rdacarrier Previous edition: 2000 1. What Is Optimal Control Theory? -- 2. The Maximum Principle: Continuous Time -- 3. The Maximum Principle: Mixed Inequality Constraints -- 4. The Maximum Principle: Pure State and Mixed Inequality Constraints -- 5. Applications to Finance -- 6. Applications to Production and Inventory -- 7. Applications to Marketing -- 8. The Maximum Principle: Discrete Time -- 9. Maintenance and Replacement -- 10. Applications to Natural Resources -- 11. Applications to Economics -- 12. Stochastic Optimal Control -- 13. Differential Games -- A. Solutions of Linear Differential Equations -- B. Calculus of Variations and Optimal Control Theory -- C. An Alternative Derivation of the Maximum Principle -- D. Special Topics in Optimal Control -- E. Answers to Selected Exercises This fully revised 3rd edition offers an introduction to optimal control theory and its diverse applications in management and economics. It brings to students the concept of the maximum principle in continuous and discrete time by using dynamic programming and Kuhn-Tucker theory. While some mathematical background is needed, the emphasis of the book is not on mathematical rigor, but on modeling realistic situations faced in business and management. The book exploits optimal control theory to the functional areas of management science including finance, production and marketing and to economics of growth and of natural resources. In addition, this new edition features materials on stochastic Nash and Stackelberg differential games and an adverse selection model in the principal-agent framework. The book provides exercises for each chapter and answers to selected exercises to help deepen the understanding of the material presented. Also included are appendices comprised of supplementary material on the solution of differential equations, the calculus of variations and its relationships to the maximum principle, and special topics including the Kalman filter, certainty equivalence, singular control, a global saddle point theorem, Sethi-Skiba points, and distributed parameter systems. Optimal control methods are used to determine optimal ways to control a dynamic system. The theoretical work in this field serves as a foundation for the book, which the author has applied to business management problems developed from his research and classroom instruction. The new edition has been completely refined and brought up to date. Ultimately this should continue to be a valuable resource for graduate courses on applied optimal control theory, but also for financial and industrial engineers, economists, and operational researchers concerned with the application of dynamic optimization in their fields Kontrolltheorie (DE-588)4032317-1 gnd rswk-swf Mathematisches Modell (DE-588)4114528-8 gnd rswk-swf Operations Research (DE-588)4043586-6 gnd rswk-swf Stochastische optimale Kontrolle (DE-588)4207850-7 gnd rswk-swf Unternehmensleitung (DE-588)4233771-9 gnd rswk-swf Management / Mathematical models Control theory Operations research Mathematisches Modell (DE-588)4114528-8 s Stochastische optimale Kontrolle (DE-588)4207850-7 s Unternehmensleitung (DE-588)4233771-9 s DE-604 Kontrolltheorie (DE-588)4032317-1 s Operations Research (DE-588)4043586-6 s |
| spellingShingle | Sethi, Suresh P. Optimal control theory applications to management science and economics 1. What Is Optimal Control Theory? -- 2. The Maximum Principle: Continuous Time -- 3. The Maximum Principle: Mixed Inequality Constraints -- 4. The Maximum Principle: Pure State and Mixed Inequality Constraints -- 5. Applications to Finance -- 6. Applications to Production and Inventory -- 7. Applications to Marketing -- 8. The Maximum Principle: Discrete Time -- 9. Maintenance and Replacement -- 10. Applications to Natural Resources -- 11. Applications to Economics -- 12. Stochastic Optimal Control -- 13. Differential Games -- A. Solutions of Linear Differential Equations -- B. Calculus of Variations and Optimal Control Theory -- C. An Alternative Derivation of the Maximum Principle -- D. Special Topics in Optimal Control -- E. Answers to Selected Exercises Kontrolltheorie (DE-588)4032317-1 gnd Mathematisches Modell (DE-588)4114528-8 gnd Operations Research (DE-588)4043586-6 gnd Stochastische optimale Kontrolle (DE-588)4207850-7 gnd Unternehmensleitung (DE-588)4233771-9 gnd |
| subject_GND | (DE-588)4032317-1 (DE-588)4114528-8 (DE-588)4043586-6 (DE-588)4207850-7 (DE-588)4233771-9 |
| title | Optimal control theory applications to management science and economics |
| title_auth | Optimal control theory applications to management science and economics |
| title_exact_search | Optimal control theory applications to management science and economics |
| title_exact_search_txtP | Optimal control theory applications to management science and economics |
| title_full | Optimal control theory applications to management science and economics Suresh P. Sethi |
| title_fullStr | Optimal control theory applications to management science and economics Suresh P. Sethi |
| title_full_unstemmed | Optimal control theory applications to management science and economics Suresh P. Sethi |
| title_short | Optimal control theory |
| title_sort | optimal control theory applications to management science and economics |
| title_sub | applications to management science and economics |
| topic | Kontrolltheorie (DE-588)4032317-1 gnd Mathematisches Modell (DE-588)4114528-8 gnd Operations Research (DE-588)4043586-6 gnd Stochastische optimale Kontrolle (DE-588)4207850-7 gnd Unternehmensleitung (DE-588)4233771-9 gnd |
| topic_facet | Kontrolltheorie Mathematisches Modell Operations Research Stochastische optimale Kontrolle Unternehmensleitung |
| work_keys_str_mv | AT sethisureshp optimalcontroltheoryapplicationstomanagementscienceandeconomics |