ORALS
SESSION: MathematicsTuePM2-R8
| 3rd Intl. Symp. on Sustainable Mathematics Applications |
| Tue Nov, 6 2018 / Room: Grego (50/3rd) | |
| Session Chairs: Peter Rowlands; Constantin Udriste; Session Monitor: TBA |
16:20: [MathematicsTuePM210] Invited
Multitime Optimal Control in Resource Economics Constantin
Udriste1 ;
1University Politehnica of Bucharest, Bucharest, Romania;
Paper Id: 191
[Abstract] Multitime optimal control theory has been recently used in economics. Here, we develop some ideas using the context of optimal control and differential geometry. Specifically, two problems are analysed: (i) multitime evolution of reproducible resources, and (ii) multitime evolution of non-reproducible resources. The technique is to associate each problem with proper functional (like multiple integral or curvilinear integral) and appropriate constraints (geometric PDEs like m-flows, Goursat-Darboux PDEs, parallelism PDEs, and specific isoperimetric constraints like integrals). When the Hamiltonian is linear affine in the control, we focus on bang-bang and singular optimal controls.
References:
[1] C. Udriste, M. Ferrara, Multi-time optimal economic growth, Journal of the Calcutta Mathematical Society, 3, 1 (2007), 1-6.
[2] C. Udriste, M. Ferrara, Multitime models of optimal growth, WSEAS Transactions on Mathematics, 7, 1 (2008), 51-55.
