Optimal control and optimal trajectories of regional macroeconomic dynamics based on the Pontryagin maximum principle. (Russian, English) Zbl 1199.91047
Zh. Vychisl. Mat. Mat. Fiz. 49, No. 5, 776-790 (2009); translation in Comput. Math., Math. Phys. 49, No. 5, 748-761 (2009).
Summary: The Pontryagin maximum principle is used to prove a theorem concerning optimal control in regional macroeconomics. A boundary value problem for optimal trajectories of the state and adjoint variables is formulated, and optimal curves are analyzed. An algorithm is proposed for solving the boundary value problem of optimal control. The performance of the algorithm is demonstrated by computing an optimal control and the corresponding optimal trajectories.
MSC:
| 91B15 | Welfare economics |
| 49K15 | Optimality conditions for problems involving ordinary differential equations |
