Resource allocation problem in a two-sector economic model of special form

DOI10.1134/S0012266109120106MaRDI QIDQ2269353zbMATH OpenOpenAlexFDO

Authors Yu. N. Kiselev, S. N. Avvakumov, M. V. Orlov

Publication date 16 March 2010

Published in Differential Equations (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1134/s0012266109120106

zbMATH Keywords

optimal control problemPontriagin maximum principleresource allocation problemtwo-sector economic model

Mathematics Subject Classification ID

Optimality conditions for problems involving ordinary differential equations (49K15) Applications of optimal control and differential games (49N90) Resource and cost allocation (including fair division, apportionment, etc.) (91B32) Multisectoral models in economics (91B66)

Review text

In the paper the resource allocation problem for a two-sector economic model is considered. The model is of special form, which describes the particular situation arising in practice. The optimal control problem with dynamics described by two nonlinear differential equations is considered on a given finite time interval. It is shown that, under certain conditions on the model parameters, the optimal solution contains a singular mode. The optimal solution is constructed in a closed form. The theoretical basis for obtained results is provided by necessary optimality conditions (Pontriagin's maximum principle) and sufficient conditions in terms of constructions of Pontriagin's maximum principle.

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Cites work

• scientific article; zbMATH DE number 3816449 (Why is no real title available?)
• Optimal allocation between nutrient uptake and growth in a microbial trichome
• Optimal control problems with singular modes for a model from microbiology
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Cited in

(13)

• Analytical form of optimal control and reachability sets in a resource allocation problem
• Optimal resource allocation in a two-sector economic model with an integral functional
• Optimal control in the resource allocation problem for a two-sector economy with a CES production function
• Study of a special model of resource allocation over an infinite interval of time
• Optimal resource distribution program in a two-sector economic model with a Cobb-Douglas production function with distinct amortization factors
• Economic resources' allocation: a goal programming model integrated with a social accounting matrix
• Optimal resource allocation in a two-sector economy with an integral functional: theoretical analysis and numerical experiments
• Optimal resource allocation program in a two-sector economic model with a Cobb-Douglas production function
• The “second economy” and resource allocation under central planning
• scientific article; zbMATH DE number 18378 (Why is no real title available?)
• Optimal resource allocation in a two-sector economic model with singular regimes
• Optimal control laws for the model of information diffusion in a social group
• A two-sector economic growth model with optimal labor and capital allocation

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