The Hamiltonian Approach to Dynamic Economics
The Hamiltonian Approach to Dynamic Economics

Author: David Cass

Publisher: Academic Press

Published: 2014-05-10

Total Pages: 212

ISBN-13: 1483266850

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The Hamiltonian Approach to Dynamic Economics focuses on the application of the Hamiltonian approach to dynamic economics and attempts to provide some unification of the theory of heterogeneous capital. Emphasis is placed on the stability of long-run steady-state equilibrium in models of heterogeneous capital accumulation. Generalizations of the Samuelson-Scheinkman approach are also given. Moreover, conditions are sought on the geometry of the Hamiltonian function (that is, on static technology) that suffice to preserve under (not necessarily small) perturbation the basic properties of the Hamiltonian dynamical system. Comprised of eight essays, this book begins with an introduction to Hamiltonian dynamics in economics, followed by a discussion on optimal steady states of n-sector growth models when utility is discounted. Optimal growth and decentralized or descriptive growth models in both continuous and discrete time are treated as applications of Hamiltonian dynamics. Theproblem of optimal growth with zero discounting is considered, with emphasis on a steepness condition on the Hamiltonian function. The general problem of decentralized growth with instantaneously adjusted expectations about price changes is also analyzed, along with the global asymptotic stability of optimal control systems with applications to the theory of economic growth. This monograph will be of value to mathematicians and economists.

Hamiltonian Dynamics
Hamiltonian Dynamics

Author: Gaetano Vilasi

Publisher: World Scientific

Published: 2001

Total Pages: 460

ISBN-13: 9789812386311

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This is both a textbook and a monograph. It is partially based on a two-semester course, held by the author for third-year students in physics and mathematics at the University of Salerno, on analytical mechanics, differential geometry, symplectic manifolds and integrable systems. As a textbook, it provides a systematic and self-consistent formulation of Hamiltonian dynamics both in a rigorous coordinate language and in the modern language of differential geometry. It also presents powerful mathematical methods of theoretical physics, especially in gauge theories and general relativity. As a monograph, the book deals with the advanced research topic of completely integrable dynamics, with both finitely and infinitely many degrees of freedom, including geometrical structures of solitonic wave equations. Contents: Analytical Mechanics: The Lagrangian Coordinates; Hamiltonian Systems; Transformation Theory; The Integration Methods; Basic Ideas of Differential Geometry: Manifolds and Tangent Spaces; Differential Forms; Integration Theory; Lie Groups and Lie Algebras; Geometry and Physics: Symplectic Manifolds and Hamiltonian Systems; The Orbits Method; Classical Electrodynamics; Integrable Field Theories: KdV Equation; General Structures; Meaning and Existence of Recursion Operators; Miscellanea; Integrability of Fermionic Dynamics. Readership: Physicists and mathematicians.

Hamiltonian Dynamics - Theory and Applications
Hamiltonian Dynamics - Theory and Applications

Author: Giancarlo Benettin

Publisher: Springer

Published: 2005-01-14

Total Pages: 187

ISBN-13: 3540315411

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This volume compiles three series of lectures on applications of the theory of Hamiltonian systems, contributed by some of the specialists in the field. The aim is to describe the state of the art for some interesting problems, such as the Hamiltonian theory for infinite-dimensional Hamiltonian systems, including KAM theory, the recent extensions of the theory of adiabatic invariants, and the phenomena related to stability over exponentially long times of Nekhoroshev's theory. The books may serve as an excellent basis for young researchers, who will find here a complete and accurate exposition of recent original results and many hints for further investigation.

Complex Hamiltonian Dynamics
Complex Hamiltonian Dynamics

Author: Tassos Bountis

Publisher: Springer Science & Business Media

Published: 2012-04-03

Total Pages: 277

ISBN-13: 364227305X

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This book introduces and explores modern developments in the well established field of Hamiltonian dynamical systems. It focuses on high degree-of-freedom systems and the transitional regimes between regular and chaotic motion. The role of nonlinear normal modes is highlighted and the importance of low-dimensional tori in the resolution of the famous FPU paradox is emphasized. Novel powerful numerical methods are used to study localization phenomena and distinguish order from strongly and weakly chaotic regimes. The emerging hierarchy of complex structures in such regimes gives rise to particularly long-lived patterns and phenomena called quasi-stationary states, which are explored in particular in the concrete setting of one-dimensional Hamiltonian lattices and physical applications in condensed matter systems. The self-contained and pedagogical approach is blended with a unique balance between mathematical rigor, physics insights and concrete applications. End of chapter exercises and (more demanding) research oriented problems provide many opportunities to deepen the reader’s insights into specific aspects of the subject matter. Addressing a broad audience of graduate students, theoretical physicists and applied mathematicians, this text combines the benefits of a reference work with those of a self-study guide for newcomers to the field.

Optimal Control, Stabilization and Nonsmooth Analysis
Optimal Control, Stabilization and Nonsmooth Analysis

Author: Marcio S. de Queiroz

Publisher: Springer Science & Business Media

Published: 2004-04-20

Total Pages: 380

ISBN-13: 9783540213307

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This edited book contains selected papers presented at the Louisiana Conference on Mathematical Control Theory (MCT'03), which brought together over 35 prominent world experts in mathematical control theory and its applications. The book forms a well-integrated exploration of those areas of mathematical control theory in which nonsmooth analysis is having a major impact. These include necessary and sufficient conditions in optimal control, Lyapunov characterizations of stability, input-to-state stability, the construction of feedback mechanisms, viscosity solutions of Hamilton-Jacobi equations, invariance, approximation theory, impulsive systems, computational issues for nonlinear systems, and other topics of interest to mathematicians and control engineers. The book has a strong interdisciplinary component and was designed to facilitate the interaction between leading mathematical experts in nonsmooth analysis and engineers who are increasingly using nonsmooth analytic tools.

Sraffa and Modern Economics, Volume I
Sraffa and Modern Economics, Volume I

Author: Roberto Ciccone

Publisher: Routledge

Published: 2013-06-17

Total Pages: 489

ISBN-13: 1136717234

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Analyzing Sraffa, one of the key figures in the history of economics, this book explores his legacy and the relevance of his thought for modern economics. Written by an array of internationally respected contributors, including Schefold, Aspromourgos, Nell and Kurz it is an invaluable tool for all those studying the history of economic thought.

Optimal Control Theory
Optimal Control Theory

Author: Suresh P. Sethi

Publisher: Springer Nature

Published: 2022-01-03

Total Pages: 520

ISBN-13: 3030917452

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This new 4th edition offers an introduction to optimal control theory and its diverse applications in management science and economics. It introduces students to the concept of the maximum principle in continuous (as well as discrete) time by combining dynamic programming and Kuhn-Tucker theory. While some mathematical background is needed, the emphasis of the book is not on mathematical rigor, but on modeling realistic situations encountered in business and economics. It applies optimal control theory to the functional areas of management including finance, production and marketing, as well as the economics of growth and of natural resources. In addition, it features material on stochastic Nash and Stackelberg differential games and an adverse selection model in the principal-agent framework. Exercises are included in each chapter, while the answers to selected exercises help deepen readers’ understanding of the material covered. Also included are appendices of supplementary material on the solution of differential equations, the calculus of variations and its ties to the maximum principle, and special topics including the Kalman filter, certainty equivalence, singular control, a global saddle point theorem, Sethi-Skiba points, and distributed parameter systems. Optimal control methods are used to determine optimal ways to control a dynamic system. The theoretical work in this field serves as the foundation for the book, in which the author applies it to business management problems developed from his own research and classroom instruction. The new edition has been refined and updated, making it a valuable resource for graduate courses on applied optimal control theory, but also for financial and industrial engineers, economists, and operational researchers interested in applying dynamic optimization in their fields.