Geared toward upper-level undergraduates, this text introduces three aspects of optimal control theory: dynamic programming, Pontryagin's minimum principle, and numerical techniques for trajectory optimization.
Publication date 1970-01-01 Topics Optimal control, Control systems, state space Collection folkscanomy; additional_collections Language English. Addeddate 2017-04-25 14:20:33 Coverleaf 0 The articles included in the issue cover novel contributions to optimal control theory as well as a broad spectrum of applications of optimal control from finance to … compares the performance of an active antiroll bar system in an automobile using two control models, namely, the linear quadratic Gaussian and the composite nonlinear feedback controller.There are three works focusing on applications in economics and finance. Minimize the continuous-time cost functionalFor the finite horizon LQ problem, the Riccati equation is integrated backward in time using the terminal boundary condition Optimal control theory is the science of maximizing the returns from and minimizing the costs of the operation of physical, social, and economic processes. by. Geared toward upper-level undergraduates, this text introduces three aspects of optimal control theory: dynamic programming, Pontryagin's minimum principle, and numerical techniques for trajectory optimization. In response to the call for papers, 58 papers were received.
Optimal control theory is the science of maximizing the returns from and minimizing the costs of the operation of physical, social, and economic processes. Yet another related control problem may be to minimize the total monetary cost of completing the trip, given assumed monetary prices for time and fuel.A more abstract framework goes as follows.
Optimal Control Theory: An Introduction. Optimal control theory: An introduction Donald E. Kirk.
The articles included in the issue cover novel contributions to optimal control theory as well as a broad spectrum of applications of optimal control from finance to resource management to engineering to marketing.The paper by R. Wu et al. uses the constant elasticity of variance model to describe the dynamics of the risk asset and establish a Hamilton-Jacobi-Bellman equation to solve the associated optimal control problem.
Optimal control theory is a branch of mathematical optimization that deals with finding a control for a dynamical system over a period of time such that an objective function is optimized. An asset and liability management problem with stochastic interest rate is examined in the paper by H. Chang et al., who investigate an optimal investment strategy to maximize the expected utility of the terminal surplus.
The paper by J. Ma et al. It is not intended as a state-of-the-art handbook for researchers. subject to the algebraic constraintsand using the initial and turn-T conditions, the functions can be solved to yieldForm the Hamiltonian and differentiate:Another related optimal control problem may be to find the way to drive the car so as to minimize its fuel consumption, given that it must complete a given course in a time not exceeding some amount. Optimal Control Theory An Introduction by Donald E. Kirk. proposes, analyzes, and solves an optimal control exploiting model of renewable resources based on effective utilization rate and illustrates its solution numerically.The paper by N. Zulkarnain et al.
Technically rigorous and largely self-contained, it provides an introduction to the use of optimal control theory for deterministic continuous-time systems in economics. Finally, the paper by C. Colapinto and E. Benecchi uses a dynamic diffusion model of a TV series to analyze the evolution of electronic media transmissions and propose an optimal control model to assist the decision-maker with an optimal solution that balances the investment in a program’s popularity sustenance and profit maximization.The paper by Z. Lu and X. Huang investigates discretization of general linear hyperbolic optimal control problems and derives a priori error estimates for mixed finite element approximation of such optimal control problems.This special issue is aimed at creating a multidisciplinary forum of discussion on recent advances in theory as well as applications.
It has numerous applications in both science and engineering. After a rigorous refereeing process, 7 papers were accepted for publication in this special issue. An Introduction to Optimal Control Ugo Boscain Benetto Piccoli The aim of these notes is to give an introduction to the Theory of Optimal Control for nite dimensional systems and in particular to the use of the Pontryagin Maximum Principle towards the constructionof an Optimal … This monograph is an introduction to optimal control theory for systems governed by vector ordinary differential equations. studies the dynamics of an oligopoly model considering the output of an upstream monopoly and prices of two downstream oligopolies; it is shown that the long-run average profits of the three firms are optimal in the region of stability of the Nash equilibrium point. Donald E. Kirk. The paper by D.-L. Sheng et al. Optimal control theory is the science of maximizing the returns from and minimizing the costs of the operation of physical, social, and economic processes.
This book bridges optimal control theory and economics, discussing ordinary differential equations, optimal control, game theory, and mechanism design in one volume.
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