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...

abstract t he return of capital is fundamental to the intertemporal allocation of resources by changing the consumption behavior and capital accumulation over time. taxation on return of capital increases the marginal product of capital, meaning that capital stock is lower than when capital is not taxed, which results decreased growth and welfare in steady state. this paper studies the impact o...

There has been much progress in the development of a model of motor control in the brain in the last decade; from the improved method for mathematically extracting the predicted movement direction from a population of neurons to the application of optimal control theory to motor control models, much work has been done to further our understanding of this area. In this paper recent literature is...

Market segmentation has emerged as the primary means by which firms achieve optimal production policy. In this paper, we use market segmentation approach in multi-product inventory system with inventory-level-dependent demand. The objective is to make use of optimal control theory to solve the inventory-production problem and develop an optimal production policy that minimizes the total cost as...

In this paper, we relax the assumption of a known time horizon in optimal control models.

This paper presents simple sufficient conditions under which optimal bunches in adverse-selection principal-agent problems can be characterized without using optimal control theory.