Titlebook: Optimal Control Theory; Applications to Mana Suresh P. Sethi Textbook 20193rd edition Springer Nature Switzerland AG 2019 Optimal Control T

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Applications to Natural Resources,management and utilization of natural resources is becoming increasingly important. There are two main kinds of natural resource models: those involving renewable resources such as fish, food, timber, etc., and those involving nonrenewable or exhaustible resources such as petroleum, minerals, etc.

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https://doi.org/10.1007/978-3-319-98237-3Optimal Control Theory; Maximum Principle; Optimal Financing Model; Production-Inventory Systems; Optima

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What Is Optimal Control Theory?,Many management science applications involve the control of dynamic systems, i.e., systems that evolve over time. They are called . or . depending on whether time varies continuously or discretely. We will deal with both kinds of systems in this book, although the main emphasis will be on continuous-time systems.

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The Maximum Principle: Mixed Inequality Constraints,The problems to which the maximum principle derived in the previous chapter was applicable had constraints involving only the control variables. We will see that in many applied models it is necessary to impose constraints involving both control and state variables. Inequality constraints involving control and possibly state variables are called .

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The Maximum Principle: Pure State and Mixed Inequality Constraints,In Chap.?. we addressed optimal control problems having constraints only on control variables. We extended the discussion in Chap.?. to treat mixed constraints that may involve state variables in addition to control variables.

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Applications to Economics,Optimal control theory has been extensively applied to the solution of economic problems since the early papers that appeared in Shell?(.) and the works of Arrow?(.) and Shell?(.). The field is too vast to be surveyed in detail here, however.

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Suresh P. Sethints with regard to time, costs and quality. The efficient operation of such systems is a continuous challenge for anyone in charge. Recent developments of advanced computer-based control technologies have contributed to development of the necessary control and management systems called Warehouse Man