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Title: A general delta-nabla calculus of variations on time scales with application to economics
Author: Dryl, M.
Torres, D. F. M.
Keywords: Application to economics
Calculus of variations
Euler-Lagrange equations
Time scales
Application programs
Difference equations
Differential equations
Equations of motion
Euler equations
Lagrange multipliers
Time measurement
Cost functionals
Delta and nabla integrals
Investment policies
Production rates
Issue Date: 2014
Publisher: Inderscience
Abstract: We consider a general problem of the calculus of variations on time scales with a cost functional that is the composition of a certain scalar function with delta and nabla integrals of a vector valued field. Euler-Lagrange delta-nabla differential equations are proved, which lead to important insights in the process of discretisation. Application of the obtained results to a firm that wants to program its production and investment policies to reach a given production rate and to maximise its future market competitiveness is discussed.
Peer review: yes
DOI: 10.1504/IJDSDE.2014.067108
ISSN: 1752-3583
Appears in Collections:CIDMA - Artigos

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