Optimal control theory provides a mathematical framework for devising strategies that steer dynamical systems towards a desired performance while minimising a prescribed cost function. In recent ...

Merton, Robert C. "Analytical Optimal Control Theory as Applied to Stochastic and Non-Stochastic Economics." Diss., Massachusetts Institute of Technology (MIT), 1970.

The American Economic Review is a general-interest economics journal. Established in 1911, the AER is among the nation's oldest and most respected scholarly journals in the economics profession and is ...

Optimal control theory for differential equations is a pivotal discipline that combines rigorous mathematical analysis with practical applications in engineering, economics, and the natural sciences.

"We are surrounded by a huge number of systems - biological, technical, economic, which we can influence, which we can control. The task is to do it optimally, for example, reaching the desired point ...

https://doi.org/10.15609/annaeconstat2009.133.0109 • https://www.jstor.org/stable/10.15609/annaeconstat2009.133.0109 Copy URL This paper studies the optimal ...

In a three-way allocation, the Nobel Memorial Prize in Economic Science was awarded moments ago to Leonid Hurwicz, of the University of Minnesota-Twin Cities; Eric S. Maskin, of the Institute for ...