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Details for article 103 of 115 found articles
| Title: |
The Riccati Equation - An Economic Fundamental Equation which Describes Marginal Movement in Time |
| Author: |
Lars P. Lystad Per-Ole Nyman Ralph Høybakk |
| Appeared in: |
Modeling, identification and control |
| Paging: | Volume 27 (2006) nr. 1 pages 3-21 |
| Year: |
2006 |
| Contents: |
The objective of this article is to demonstrate that the Riccati equation is an economic fundamental equation, which is marginally descriptive in time for the large majority of economic systems. It is also an objective to interpret the Riccati equation and the corresponding relations in terms of economics. The article shows that there is a close relationship between the marginal Hamiltonian function and the Riccati equation. The marginal Hamiltonian function will be an expression of the accounts based on optimal behaviour including both the change in result and the change in balance. |
| Publisher: |
Norwegian Society of Automatic Control (provided by DOAJ) |
| Source file: |
Elektronische Wetenschappelijke Tijdschriften |
Details for article 103 of 115 found articles
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