Dynamic Policies of the Firm: An Optimal Control Approach - Hardcover

Onno Van Hilten Paul J. J. M. Van Loon Peter M. Kort

Hardcover

ISBN 10: 3540561250 ISBN 13: 9783540561255

Publisher: Springer, 1992

Synopsis

In this book we open our insights in the Theory of the Firm, obtained through the application of Optimal Control Theory, to a public of scholars and advanced students in economics and applied mathematics. We walk on the micro economic side of the street that is bordered by Theory of the Firm on one side and by Optimal Control Theory on the other, keeping the reader away from all the dead end roads we turned down during our 10 years lasting research. We focus attention on the expressiveness and variety of insights that are obtained through studying only simple models of the firm. In this book mathematics is our tool, insight in optimal corporate policy our goal. Therefore most of the mathematics and calculations is put into appendices and in the main text all attention is on modelling corporate behaviour and on analysing the results of the calculations. So, the main text focusses on micro economics, even more on Theory of the Firm. In that way this book is contrasted from such famous text books in applied Optimal Control with a much broader portfolio of applications, like Feichtinger & Hartl (1986) or with a more rigorous introduction into theory, like Seierstad & Sydsaeter (1987).

Edition details

• Publisher: Springer
• Publication date: 1992
• Language: English
• ISBN 10: 3540561250
• ISBN 13: 9783540561255
• Binding: Hardcover
• Edition number: 1
• Number of pages: 445