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:  28 Sep 2019 10:29 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/5117 
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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]