Optimal control theory in economics : a short development of the Hamiltonian method and a discussion of the Ramsey model : an honors thesis (HONRS 499)

Abstract

This paper explores the economic facets of optimal control theory. The discussion includes the development of the Hamiltonian method, discrete optimal control theory applied to basic consumption analysis, a transition to continuous optimal control problems, and complete discussion of Dorfman’s work with the Ramsey Growth Model.