Free Ebook Stochastic Control and Mathematical Modeling: Applications in Economics (Encyclopedia of Mathematics and its Applications)By Hiroaki Mor
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Stochastic Control and Mathematical Modeling: Applications in Economics (Encyclopedia of Mathematics and its Applications)By Hiroaki Mor
Free Ebook Stochastic Control and Mathematical Modeling: Applications in Economics (Encyclopedia of Mathematics and its Applications)By Hiroaki Mor
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This is a concise and elementary introduction to stochastic control and mathematical modeling. This book is designed for researchers in stochastic control theory studying its application in mathematical economics and those in economics who are interested in mathematical theory in control. It is also a good guide for graduate students studying applied mathematics, mathematical economics, and non-linear PDE theory. Contents include the basics of analysis and probability, the theory of stochastic differential equations, variational problems, problems in optimal consumption and in optimal stopping, optimal pollution control, and solving the HJB equation with boundary conditions. Major mathematical requisitions are contained in the preliminary chapters or in the appendix so that readers can proceed without referring to other materials.
- Sales Rank: #4065671 in Books
- Published on: 2010-01-29
- Original language: English
- Number of items: 1
- Dimensions: 9.21" h x 1.10" w x 6.14" l, 1.35 pounds
- Binding: Hardcover
- 340 pages
Review
"This book provides an excellent introduction to controlled diffusions and their economic applications and it is self-contained..."
Vivek S. Borkar, Mathematical Reviews
"As the title indicates, the author's presentation is clearly focussed on economics and provides neither exercises nor questions for further investigation. However, the chapters should allow the reader to identify future research areas. As such the text has much to commend it and the time taken to understand the material presented will reap benefits. For those interested in theoretical expositions, this is a text that I can recommend."
Carl M. O'Brien, International Statistical Review
About the Author
Hiroaki Morimoto is a Professor in Mathematics at the Graduate School of Science and Engineering at Ehime University. His research interests include stochastic control, mathematical economics and finance and insurance applications, and the viscosity solution theory.
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