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Optimal Control of a Single-sector Economy under Random Variations of Fixed Capital and Labor Resources

  • Control in Social Economic Systems
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Abstract

The optimal control problem of a single-sector economy under random variations of fixed capital and labor resources is solved in analytical form. As an optimality criterion the maximum mean value of savings on a given period of production is chosen. The solution of this optimal control problem is based on the method of dynamic programming.

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Authors and Affiliations

  1. Tomsk State National Research University, Tomsk, Russia

    Yu. I. Paraev & K. O. Poluektova

Authors
  1. Yu. I. Paraev
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  2. K. O. Poluektova
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Corresponding authors

Correspondence to Yu. I. Paraev or K. O. Poluektova.

Additional information

This paper was recommended for publication by D.A. Novikov, a member of the Editorial Board

Russian Text © The Author(s), 2020, published in Avtomatika i Telemekhanika, 2020, No. 4, pp. 162–172.

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Paraev, Y.I., Poluektova, K.O. Optimal Control of a Single-sector Economy under Random Variations of Fixed Capital and Labor Resources. Autom Remote Control 81, 704–712 (2020). https://doi.org/10.1134/S0005117920040116

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  • DOI: https://doi.org/10.1134/S0005117920040116

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