Income, Wealth, and the Maximum Principle PDF Download

Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Income, Wealth, and the Maximum Principle PDF full book. Access full book title Income, Wealth, and the Maximum Principle by Martin L. Weitzman. Download full books in PDF and EPUB format.

Income, Wealth, and the Maximum Principle

Income, Wealth, and the Maximum Principle PDF Author: Martin L. Weitzman
Publisher: Harvard University Press
ISBN: 9780674025769
Category : Business & Economics
Languages : en
Pages : 0

Get Book Here

Book Description
This compact and original exposition of optimal control theory and applications is designed for graduate and advanced undergraduate students in economics. It presents a new elementary yet rigorous proof of the maximum principle and a new way of applying the principle that will enable students to solve any one-dimensional problem routinely. Its unified framework illuminates many famous economic examples and models. This work also emphasizes the connection between optimal control theory and the classical themes of capital theory. It offers a fresh approach to fundamental questions such as: What is income? How should it be measured? What is its relation to wealth? The book will be valuable to students who want to formulate and solve dynamic allocation problems. It will also be of interest to any economist who wants to understand results of the latest research on the relationship between comprehensive income accounting and wealth or welfare.