Modeling and Optimization of the Lifetime of Technologies (Applied Optimization)

Focusing on one of the major aspects of economic development, this book treats the integral economic models with embodied technological change and the controlled lifetime of technologies. Features of the book include: the theoretical basis and algorithmic tools for the analysis of industrial renovation under technical change; a variety of models and optimization problems with simulation examples of real economic systems; a qualitative study of optimal trajectories, including turnpike theorems, and their extended economic analysis; the development of the theory of the models in parallel with numerical algorithms and software. Audience: Researchers, graduate and post-graduate students in mathematical modeling, mathematical economics, control theory, optimization, integral equations, system analysis, and related subjects.