Fabbri, Giorgio (2007): Viscosity solutions to delay differential equations in demoeconomy.
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Abstract
Economic and demographic models governed by linear delay differential equations are expressed as optimal control problems in infinite dimensions. A general objective function is considered and the concavity of the Hamiltonian is not required. The value function is a viscosity solution of the HamiltonJacobiBellman (HJB) equation and a verification theorem is proved.
Item Type:  MPRA Paper 

Original Title:  Viscosity solutions to delay differential equations in demoeconomy 
Language:  English 
Keywords:  viscosity solutions; delay differential equation; vintage models 
Subjects:  C  Mathematical and Quantitative Methods > C6  Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C61  Optimization Techniques ; Programming Models ; Dynamic Analysis M  Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M3  Marketing and Advertising > M30  General O  Economic Development, Innovation, Technological Change, and Growth > O4  Economic Growth and Aggregate Productivity > O41  One, Two, and Multisector Growth Models 
Item ID:  5117 
Depositing User:  Giorgio Fabbri 
Date Deposited:  02. Oct 2007 
Last Modified:  15. Feb 2013 03:01 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/5117 
Available Versions of this Item

Viscosity solutions approach to economic models governed by DDEs. (deposited 19. Apr 2007)
 Viscosity solutions to delay differential equations in demoeconomy. (deposited 02. Oct 2007) [Currently Displayed]