Some Characteristic Features of Optimal Control Problems in Economic Theory




Dobell, Rod

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Institute of Electrical and Electronics Engineers


This paper formulates the system equations, state and control space constraints, and a criterion functional for an elementary example of a problem in economic growth, and discusses some further interpretation of the underlying economic structure. Several examples are presented to illustrate particular features of control problems in economics; references to further examples, and to more general work in mathematical economics, are cited.


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economic growth models, control problems, economic theory, economic policy


Dobell, A. R. "Some Characteristic Features of Optimal Control Problems in Economic Theory." IEEE Transactions on Automatic Control AC-14.1 (1969): 39-48.