A general delta-nabla calculus of variations on time scales with application to economics

We consider a general problem of the calculus of variations on time scales with a cost functional that is the composition of a certain scalar function with delta and nabla integrals of a vector valued field. Euler-Lagrange delta-nabla differential equations are proved, which lead to important insigh...

Full description

Bibliographic Details
Main Author: Dryl, M. (author)
Other Authors: Torres, D. F. M. (author)
Format: article
Language:eng
Published: 1000
Subjects:
Application to economics
Calculus of variations
Discretisations
Euler-Lagrange equations
Time scales
Application programs
Difference equations
Differential equations
Economics
Equations of motion
Euler equations
Investments
Lagrange multipliers
Time measurement
Cost functionals
Delta and nabla integrals
Investment policies
Production rates
Time-scales
Calculations
Online Access:http://hdl.handle.net/10773/14644
Country:Portugal
Oai:oai:ria.ua.pt:10773/14644
Description
Summary:We consider a general problem of the calculus of variations on time scales with a cost functional that is the composition of a certain scalar function with delta and nabla integrals of a vector valued field. Euler-Lagrange delta-nabla differential equations are proved, which lead to important insights in the process of discretisation. Application of the obtained results to a firm that wants to program its production and investment policies to reach a given production rate and to maximise its future market competitiveness is discussed.

Similar Items