Income, wealth, and the maximum principle / Martin L. Weitzman.

Format:

Book

Author/Creator:

Weitzman, Martin L., 1942-

Language:

English

Subjects (All):

Economics--Mathematical models.

Economics.

Mathematical optimization.

Maximum principles (Mathematics).

National income--Accounting.

National income.

Wealth--Mathematical models.

Wealth.

Economic development--Mathematical models.

Economic development.

Physical Description:

1 online resource (358 p. ) ill.

Edition:

1st ed.

Place of Publication:

Cambridge, Mass. : Harvard University Press, 2003.

Language Note:

English

Summary:

A compact exposition of optimal control theory and applications, which presents an elementary yet rigorous proof of the maximum principle and a way of applying the principle that should enable students to solve any one-dimensional problem routinely.

Contents:

Frontmatter

Contents

Preface

Introduction

Part I. Introduction to the Maximum Principle

1. The Calculus of Variations and the Stationary Rate of Return on Capital

2. The Prototype-Economic Control Problem

3. The Maximum Principle in One Dimension

4. Applications of the Maximum Principle in One Dimension

Part II. Comprehensive Accounting and the Maximum Principle

5. Optimal Multisector Growth and Dynamic Competitive Equilibrium

6. The Pure Theory of Perfectly Complete National Income Accounting

7. The Stochastic Wealth and Income Version of the Maximum Principle

References

Index

Notes:

Originally published: 2003.

Includes bibliographical references (p. 329-335) and index.

ISBN:

9780674045071

0674045076

OCLC:

923112720