Business dynamics models : optimization-based one step ahead optimal control / Eugenius Kaszkurewicz and Amit Bhaya.

Format:

• Book

Author/Creator:

• Kaszkurewicz, Eugenius, author.
• Bhaya, Amit, author.

Contributor:

• Society for Industrial and Applied Mathematics, publisher.

Series:

• Advances in design and control.
• Advances in design and control

Language:

English

Subjects (All):

• Business--Mathematical models.
• Industrial management--Econometric models.

Physical Description:

1 online resource (xxii, 184 pages) : illustrations (some color).

Place of Publication:

Philadelphia, Pennsylvania : Society for Industrial and Applied Mathematics (SIAM, 3600 Market Street, Floor 6, Philadelphia, PA 19104), [2022]

System Details:

• Mode of access: World Wide Web.
• System requirements: Adobe Acrobat Reader.

Summary:

This book introduces optimal control methods, formulated as optimization problems, applied to business dynamics problems. Business dynamics refers to a combination of business management and financial objectives embedded in a dynamical system model. The model is subject to a control that optimizes a performance index and takes both management and financial aspects into account. Business Dynamics Models: Optimization-Based One Step Ahead Optimal Control includes solutions that provide a rationale for the use of optimal control and guidelines for further investigation into more complex models; formulations that can also be used in a so-called flight simulator mode to investigate different complex scenarios; and a modern programming environment (Jupyter notebooks in JuMP/Julia) for modeling, simulation, and optimization. Julia code and notebooks are provided on a website for readers to experiment with their own examples.

Contents:

• An overview of some models in business dynamics
• Omniscient and one step ahead optimal control
• The debt amortization problem with wealth maximization
• The cash balance problem
• Dynamic trading
• The inventory control and management problem
• Market share dynamics under advertising in monopolies
• Competitive duopolies: Market share dynamics under advertising
• Conclusions.

Notes:

• Includes bibliographical references (pages 163-173) and index.
• Description based on title page of print version.

ISBN:

1-61197-731-2

Publisher Number:

DC40 SIAM