The goal of this course is to introduce students to Mathematica, a software which helps solving and representing equations, functions and other mathematical issues, and to use it to solve optimal control problems.
The course is addressed to graduate students enrolled in either the Ph.D. in Economics or in the EDLE.
Schedule
15 March, 2013, 9.00-11.00. Bigiavi
Optimal control
optimality conditions
transversality conditions
asymptotic stability
18 March, 2013, 16.00-18.00. Aula seminari
Mathematica
solution of equations
graphical representation, plot manipulation
matrices: determinant, trace, eigenvalues
22 March, 2013, 17.00-19.00. Aula seminari
Optimal control using Mathematica
from your notes to a Mathematica sheet
explicit solutions of linear-quadratic models
References
An excellent introduction to optimal control theory is Chiang, A. (1992): Elements of Dynamic Optimization. McGraw-Hill, New York: New York
We will replicate the results cointained in
Dragone, D. (2009). I am getting tired: effort and fatigue in intertemporal decision-making. Journal of Economic Psychology, 30(4), 552-562. paper
Dragone, D. (2009). A rational eating model of binges, diets and obesity. Journal of Health Economics, 28(4), 799-804. paper
Dragone, D., Savorelli, L. (2012). Thinness and obesity: a model of food consumption, health concerns and social pressure. Journal of Health Economics, 31(1), 243-256. paper
Requirements
Prior knowledge of optimal control methods is helpful.
No prior knowledge of Mathematica is required.
Bring your laptop and ensure you have a copy of Mathematica.