Title: Stochastic Control and Mathematical Modeling: Applications in Economics (Encyclopedia of Mathematics and its Applications, Series Number 131)
Publisher: Cambridge University Press
Publication Date: 2010
Language: English
ISBN 10: 0521195039
ISBN 13: 9780521195034
Binding: Hardcover
Condition: New

About this title

Synopsis

This is a concise and elementary introduction to stochastic control and mathematical modeling. This book is designed for researchers in stochastic control theory studying its application in mathematical economics and those in economics who are interested in mathematical theory in control. It is also a good guide for graduate students studying applied mathematics, mathematical economics, and non-linear PDE theory. Contents include the basics of analysis and probability, the theory of stochastic differential equations, variational problems, problems in optimal consumption and in optimal stopping, optimal pollution control, and solving the HJB equation with boundary conditions. Major mathematical requisitions are contained in the preliminary chapters or in the appendix so that readers can proceed without referring to other materials.

About the Author

Hiroaki Morimoto is a Professor in Mathematics at the Graduate School of Science and Engineering at Ehime University. His research interests include stochastic control, mathematical economics and finance and insurance applications, and the viscosity solution theory.

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