Stability and Time-Optimal Control of Hereditary Systems: With Application to the Economic Dynamics of the Us (2nd Edition) (Advances in Mathematics for Applied Sciences)

Stability and Time-Optimal Control of Hereditary Systems is the mathematical foundation and theory required for studying in depth the stability and optimal control of systems whose history is taken into account. In this edition, the economic application is enlarged, and explored in some depth. The application holds out the hope that full employment and high income growth will be compatible with low prices and low inflation, provided that the control matrix has full rank, i.e., the existing controls are fully effectively used. The book concludes with a new appendix containing complete programs, data, graphs and quantitative results for the US economy.

"The book under review, mostly based on the author's contributions, contains new developments in control theory for hereditary systems that are of mathematical interest and have important applications. The results obtained are illustrated by meaningful examples from engineering, economics, and biology, most of, which are not only academic but are really important for applications. This book can be recommended to mathematicians and graduate students as well as to engineers, economists, and others who are interested in applications of hereditary systems and mathematical control theory." B Mordukhovich Mathematical Reviews Ann Arbor MI "This monograph introduces the theory of stability and time-optimal control of hereditary systems. Examples from biology, from economics and from engineering are used to study the stability and the time-optimal control of hereditary systems. Within this theory the problem of minimum energy and effort control of systems are also explored. Some efforts are made to construct an optimal control strategy for the simple linear systems cited in the examples. For finite-dimensional linear systems, time-optimal and minimum effort feedback controls are constructed." T Riismaa Zebtralblatt fur Mathematik Tallinn "Chukwu's book should serve as a useful introduction to the mathematical theory of the control hereditary systems. It is of particular interest to applied mathematicians and engineers. There is much to be gained from studying this book." T S Angell University of Delaware Newark, DE USA