Alexander J Zaslavski

(Author)

Turnpike Theory for the Robinson-Solow-Srinivasan Model (2020)Hardcover - 2020, 5 January 2021

Turnpike Theory for the Robinson-Solow-Srinivasan Model (2020)
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Part of Series
Springer Optimization and Its Applications
Print Length
442 pages
Language
English
Publisher
Springer
Date Published
5 Jan 2021
ISBN-10
3030603067
ISBN-13
9783030603069

Description

This book is devoted to the study of a class of optimal control problems arising in mathematical economics, related to the Robinson-Solow-Srinivasan (RSS) model. It will be useful for researches interested in the turnpike theory, infinite horizon optimal control and their applications, and mathematical economists. The RSS is a well-known model of economic dynamics that was introduced in the 1960s and as many other models of economic dynamics, the RSS model is determined by an objective function (a utility function) and a set-valued mapping (a technology map). The set-valued map generates a dynamical system whose trajectories are under consideration and the objective function determines an optimality criterion. The goal is to find optimal trajectories of the dynamical system, using the optimality criterion.

Chapter 1 discusses turnpike properties for some classes of discrete time optimal control problems. Chapter 2 present the description of the RSS model and discuss its basic properties. Infinite horizon optimal control problems, related to the RSS model are studied in Chapter 3. Turnpike properties for the RSS model are analyzed in Chapter 4. Chapter 5 studies infinite horizon optimal control problems related to the RSS model with a nonconcave utility function. Chapter 6 focuses on infinite horizon optimal control problems with nonautonomous optimality criterions. Chapter 7 contains turnpike results for a class of discrete-time optimal control problems. Chapter 8 discusses the RSS model and compares different optimality criterions. Chapter 9 is devoted to the study of the turnpike properties for the RSS model. In Chapter 10 the one-dimensional autonomous RSS model is considered and the continuous time RSS model is studied in Chapter 11.

Product Details

Author:
Alexander J Zaslavski
Book Edition:
2020
Book Format:
Hardcover
Country of Origin:
NL
Date Published:
5 January 2021
Dimensions:
23.39 x 15.6 x 2.54 cm
ISBN-10:
3030603067
ISBN-13:
9783030603069
Language:
English
Location:
Cham
Pages:
442
Publisher:
Weight:
807.39 gm

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