Near-Optimality in Stochastic Control of an Capital Accumulation System with Markovian Switching and Poisson Jumps

2013 ◽  
Vol 300-301 ◽  
pp. 627-630
Author(s):  
Ya Ting Liu ◽  
Qi Min Zhang

We introduce a class of stochastic capital system with Marvokian switching and Poisson jumps, establish necessary condition for near-optimality. The proof of the main results is based on Ito's formula, Ekeland's variational principle and some estimates on the state and the adjoint process with respect to the control variable.

2013 ◽  
Vol 694-697 ◽  
pp. 2153-2156
Author(s):  
Xi Ning Li ◽  
Dong Mei Wei

In this paper, we introduce a stochastic predator-pray system with Markov switching. We establish the necessary conditions of near-optimal control for this system. The proof of the main results are based on Ito's formula, Ekeland's variational principle and some estimates on the state and the adjoint process with respect to the control variable.


2013 ◽  
Vol 319 ◽  
pp. 558-561
Author(s):  
Xi Ning Li ◽  
Dong Mei Wei

In this paper, we introduce a stochastic predator-pray system with Markov switching. We establish the necessary conditions of near-optimal control for this system. The proof of the main results are based on Ito's formula, Ekeland's variational principle and some estimates on the state and the adjoint process with respect to the control variable.


2009 ◽  
Vol 55 (No. 11) ◽  
pp. 541-549 ◽  
Author(s):  
L. Čechura

The paper deals with the theoretical analysis of the impact of credit rationing on farmer’s economic equilibrium. The analysis is carried out based on the derived dynamic optimization model, which is the dynamic investment model with adjustment costs. The credit rationing is introduced by imposing an upper limit on the control variable, which is in this case represented by the investment spending. Then, the optimal control is used to solve the optimization problem in the situation of both with and without credit constraints. Finally, the situations without and with credit rationing are compared. The results show that the occurrence of credit rationing or in general financial constraints significantly determines the capital accumulation and investment decisions of farmers and as a result their supply functions.


2020 ◽  
Vol 1 (1) ◽  
pp. 62-69
Author(s):  
Magdalena Ujma

Abstract An analysis of the relationship between Jan III Sobieski and the people he distinguished shows that there were many mutual benefits. Social promotion was more difficult if the candidate for the office did not come from a senatorial family34. It can be assumed that, especially in the case of Atanazy Walenty Miączyński, the economic activity in the Sobieski family was conducive to career development. However, the function of the plenipotentiary was not a necessary condition for this. Not all the people distinguished by Jan III Sobieski achieved the same. More important offices were entrusted primarily to Marek Matczyński. Stanisław Zygmunt Druszkiewicz’s career was definitely less brilliant. Druszkiewicz joined the group of senators thanks to Jan III, and Matczyński and Szczuka received ministerial offices only during the reign of Sobieski. Jan III certainly counted on the ability to manage a team of people acquired by his comrades-in-arms in the course of his military service. However, their other advantage was also important - good orientation in political matters and exerting an appropriate influence on the nobility. The economic basis of the magnate’s power is an issue that requires more extensive research. This issue was primarily of interest to historians dealing with latifundia in the 18th century. This was mainly due to the source material. Latifundial documentation was kept much more regularly in the 18th century than before and is well-organized. The economic activity of the magnate was related not only to the internal organization of landed estates. It cannot be separated from the military, because the goal of the magnate’s life was politics and, very often, also war. Despite its autonomy, the latifundium wasn’t isolated. Despite the existence of the decentralization process of the state, the magnate families remained in contact with the weakening center of the state and influenced changes in its social structure. The actual strength of the magnate family was determined not only by the area of land goods, but above all by their profitability, which depended on several factors: geographic location and natural conditions, the current situation on the economic market, and the management method adopted by the magnate. In the 17th century, crisis phenomena, visible in demography, agricultural and crafts production, money and trade, intensified. In these realities, attempts by Jan III Sobieski to reconstruct the lands destroyed by the war and to introduce military rigor in the management center did not bring the expected results. Sobieski, however, introduced “new people” to the group of senators, who implemented his policy at the sejmiks and the Parliament, participated in military expeditions and managed his property.


1989 ◽  
Vol 21 (4) ◽  
pp. 445-462 ◽  
Author(s):  
R J King

The flow of both productive and speculative investment into housing relates to the state of capital accumulation in other economic sectors, as hypothesised in the ‘circuits of capital’ argument, but it also relates to the incentive to ‘switch’ investment into and out of housing, and therefore to expectations of ground rent and the (changing) social conditions that enable ground rent extraction. This is the first of three papers in which the relationships involved in these processes are explored. A series of theoretical problems arising from the argument are dealt with, principally relating to its seeming economic determinism and to an inappropriately narrow treatment of crisis and social change. In the subsequent papers, in this journal, these various ideas will be used to reflect on housing market and related social change in Melbourne from the 1930s to the 1980s.


2018 ◽  
Vol 52 (5) ◽  
pp. 1617-1650 ◽  
Author(s):  
Alejandro Allendes ◽  
Enrique Otárola ◽  
Richard Rankin ◽  
Abner J. Salgado

We propose and analyze a reliable and efficienta posteriorierror estimator for a control-constrained linear-quadratic optimal control problem involving Dirac measures; the control variable corresponds to the amplitude of forces modeled as point sources. The proposeda posteriorierror estimator is defined as the sum of two contributions, which are associated with the state and adjoint equations. The estimator associated with the state equation is based on Muckenhoupt weighted Sobolev spaces, while the one associated with the adjoint is in the maximum norm and allows for unbounded right hand sides. The analysis is valid for two and three-dimensional domains. On the basis of the deviseda posteriorierror estimator, we design a simple adaptive strategy that yields optimal rates of convergence for the numerical examples that we perform.


2016 ◽  
Vol 8 (6) ◽  
pp. 1050-1071 ◽  
Author(s):  
Tianliang Hou ◽  
Li Li

AbstractIn this paper, we investigate the error estimates of mixed finite element methods for optimal control problems governed by general elliptic equations. The state and co-state are approximated by the lowest order Raviart-Thomas mixed finite element spaces and the control variable is approximated by piecewise constant functions. We derive L2 and H–1-error estimates both for the control variable and the state variables. Finally, a numerical example is given to demonstrate the theoretical results.


2017 ◽  
Author(s):  
Pun Ngai ◽  
Jenny Chan

In 2010, a startling 18 young migrant workers attempted suicide at Foxconn Technology Group production facilities in China. This article looks into the development of the Foxconn Corporation to understand the advent of capital expansion and its impact on frontline workers’ lives in China. It also provides an account of how the state facilitates Foxconn’s production expansion as a form of monopoly capital. Foxconn stands out as a new phenomenon of capital expansion because of the incomparable speed and scale of its capital accumulation in all regions of China. This article explores how the workers at Foxconn, the world’s largest electronics manufacturer, have been subjected to work pressure and desperation that might lead to suicides on the one hand but also open up daily and collective resistance on the other hand.


2020 ◽  
Vol 2 (2) ◽  
pp. 107-111
Author(s):  
Dmitriy Sizov

In this article the author considers ensuring the personal security of a convicted person who is in prison as a necessary condition for full, comprehensive observance and enforcement of human and civil rights and freedoms. The author analyzes the concept of “personal security of convicts”, as well as examines the legal framework governing this activity. At present, issues of ensuring the personal safety of prisoners in places of deprivation of liberty are becoming increasingly relevant, since crime in institutions of the penal system is one of the most dangerous criminogenic factors. Currently, in places of isolation there is a risk of committing illegal acts on the part of the convicts themselves, as well as on the part of other persons who visit such institutions for various reasons. The author concludes that convicts’ security in correctional institutions is a multidimensional activity and contains many factors. Security in correctional institutions is provided by the employees with mandatory interaction with other law enforcement and government agencies. In order for the state, represented by institutions and bodies of the Federal Penitentiary Service of Russia, to perform its direct duty to ensure the safety of convicts, it is necessary: constant and enhanced supervision of these persons; strict observance by convicts of the established rules in correctional institutions, the procedure for applying incentives and penalties to them; conducting educational activities; transferring convicts to a safe place, etc. All these measures are aimed exclusively at ensuring human and civil rights and freedoms in places of detention, which in turn is an additional factor that has a positive impact on the development of the state and society.


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