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Turnpike Theory for the Robinson-Solow-Srinivasan Model (Paperback, 1st ed. 2020)
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Turnpike Theory for the Robinson-Solow-Srinivasan Model (Paperback, 1st ed. 2020)
Series: Springer Optimization and Its Applications, 166
Expected to ship within 10 - 15 working days
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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.
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