An application of time scales to economics

被引:210
作者
Atici, FM [1 ]
Biles, DC
Lebedinsky, A
机构
[1] Western Kentucky Univ, Dept Math, Bowling Green, KY 42101 USA
[2] Western Kentucky Univ, Dept Econ, Bowling Green, KY 42101 USA
关键词
calculus of variations; time scales; nabla derivative; dynamic models; optimization;
D O I
10.1016/j.mcm.2005.08.014
中图分类号
TP39 [计算机的应用];
学科分类号
081203 ; 0835 ;
摘要
Economics is a discipline in which there appears to be many opportunities for applications of time scales. The time scales approach will not only unify the standard discrete and continuous models in economics, but also, for example, allows for payments which arrive at unequally spaced points in time. We present a dynamic optimization problem from economics, construct a time scales model, and apply calculus of variations to derive a solution. Time scale calculus would allow exploration of a variety of situations in economics. (c) 2005 Elsevier Ltd. All rights reserved.
引用
收藏
页码:718 / 726
页数:9
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