Discrete Model of Optimal Growth on a Finite Time Horizon as a Boundary Value Problem

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F20%3A50017189" target="_blank" >RIV/62690094:18450/20:50017189 - isvavai.cz</a>

Výsledek na webu

<a href="https://mme2020.mendelu.cz/wcd/w-rek-mme/mme2020_conference_proceedings_final_final.pdf" target="_blank" >https://mme2020.mendelu.cz/wcd/w-rek-mme/mme2020_conference_proceedings_final_final.pdf</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Discrete Model of Optimal Growth on a Finite Time Horizon as a Boundary Value Problem

Popis výsledku v původním jazyce

The aim of this paper is to introduce a way to transform a discrete growth model with a ????inite time horizon to a system of nonlinear equations that can be solved by a numerical method. Neoclassical growth model is usually presented in continuous time. If an objective utility function is given the growth model can be formulated as optimal control problem. This paper considers a discrete-time growth model on a ????inite time horizon. First necessary conditions for optimal solution to the problem are introduced. Then Euler equation is developed. The ????inal model can be expressed by a system of two nonlinear difference equations with two boundary values based on these relations. Unfortunately, such a problem cannot be solved analytically. Therefore, the given system of difference equations is rewritten using the system of nonlinear equations which is subsequently solved by a suitable numerical method.

Název v anglickém jazyce

Discrete Model of Optimal Growth on a Finite Time Horizon as a Boundary Value Problem

Popis výsledku anglicky

The aim of this paper is to introduce a way to transform a discrete growth model with a ????inite time horizon to a system of nonlinear equations that can be solved by a numerical method. Neoclassical growth model is usually presented in continuous time. If an objective utility function is given the growth model can be formulated as optimal control problem. This paper considers a discrete-time growth model on a ????inite time horizon. First necessary conditions for optimal solution to the problem are introduced. Then Euler equation is developed. The ????inal model can be expressed by a system of two nonlinear difference equations with two boundary values based on these relations. Unfortunately, such a problem cannot be solved analytically. Therefore, the given system of difference equations is rewritten using the system of nonlinear equations which is subsequently solved by a suitable numerical method.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

10102 - Applied mathematics

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2020

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

38th International Conference on Mathematical Methods in Economics

ISBN

978-80-7509-734-7

ISSN

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e-ISSN

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Počet stran výsledku

7

Strana od-do

467-473

Název nakladatele

Mendel University Publishing Center

Místo vydání

Brno

Místo konání akce

Brno

Datum konání akce

9. 9. 2020

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000668460800072