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Session 8. Dynamic Systems with Fractional and Time Scale Derivatives
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Calculus of variations on time scales: some economics applications |
Małgorzata Guzowska, Faculty of Economics and Management, University of Szczecin, Poland
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The talk is based on the joint work with Agnieszka B. Malinowska
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The time scale calculus theory can be applicable to any field in which
dynamic processes are described by discrete or continuous models. On
the other hand, many economic models are dynamic models. Therefore it
is natural to relate those two subjects. This work is intended to motivate
the use of the calculus of variations and optimal control problems on time
scales in the study of economic models.
The paper present a detailed exposition of a ``cake-eating'' problem and a model of household consumption.
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