Multi-dimensional calculus of variations and optimal control of first-order partial differential equations are the subject of this chapter. It introduces the optimal control of distributions, when the dynamics of the distributions are governed by first-order time-dependent partial differential equations. An interesting application is related to the joint process of economic growth and income distribution in the presence of aggregate mobility, when the policymaker is inequality averse.

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Optimal Control of First-Order PDE

  • Paulo B. Brito

摘要

Multi-dimensional calculus of variations and optimal control of first-order partial differential equations are the subject of this chapter. It introduces the optimal control of distributions, when the dynamics of the distributions are governed by first-order time-dependent partial differential equations. An interesting application is related to the joint process of economic growth and income distribution in the presence of aggregate mobility, when the policymaker is inequality averse.