in this paper we first describe the stochastic optimal control algorithm called ((optcon)). the algorithm minimizes an intertemporal objective loss function subject to a nonlinear dynamic system in order to achieve optimal value of control (or instrument) variables. second as an application, we implemented the algorithm by the statistical programming system ((gauss)) to determine the optimal fi...

economists were interested in economic stabilization policies as early as the 1930’s but the formal applications of stability theory from the classical control theory to economic analysis appeared in the early 1950’s when a number of control engineers actively collaborated with economists on economic stability and feedback mechanisms. the theory of optimal control resulting from the contributio...

The study of the existence and the structure of solutions of optimal control problems defined on infinite intervals and on sufficiently large intervals has recently become a rapidly growing area of research. See, for example, [2], [4]-[9], [13, 14,17,18], [22]-[26], [30] and the references mentioned therein. These problems arise in engineering [1,12,15], in models of economic growth [11,19,21,2...

Shot hole disease of stone fruit trees, caused by Wilsonomyces carpophilus (Lév.) Adaskaveg, Ogawa & Butler(= Stigmina carpophila (Lév.) M.B. Ellis and Coryneum beijerinckii Oud.) is a serious disease of Prunus species in West Azerbaijan province. The pathogen was obtained from infected leaves, fruits and twigs of Prunus orchards during spring and summer of 2007. Samples were cultured on PDA, M...

An endogenous growth model is examined where individuals optimize consumption and tax evasion over time given the tax structure and tax compliance policy of the government. Applying methods of stochastic optimal control, the individual’s problem is solved and the rate of economic growth is derived. It is shown that for a given tax policy tax evasion spurs growth because it leads to higher savin...

The goal of this paper consists in showing how a recently developed sufficient theorem appropriate for certain classes of optimal control problems containing mixed state-control constraints could be applied. The existence of a singular solution to a practical application involving an economic model with population growth becomes an outstanding component of the paper. Mathematics Subject Classif...

The growth-optimal portfolio optimization strategy pioneered by Kelly is based on constant portfolio rebalancing which makes it sensitive to transaction fees. We examine the effect of fees on an example of a risky asset with a binary return distribution and show that the fees may give rise to an optimal period of portfolio rebalancing. The optimal period is found analytically in the case of log...

In the developing economies, optimal forest regimes should incorporate the socio-economic characteristics of the user groups. And, since socio-economic factors will change with time, optimal forest regimes will also follow a dynamic path. The two most important socio-economic factors are the heterogeneity of the user group with respect to forest management and the direct dependence of the user ...