*Rafal Goebel, Ricardo G. Sanfelice, and Andrew R. Teel*

- Published in print:
- 2012
- Published Online:
- October 2017
- ISBN:
- 9780691153896
- eISBN:
- 9781400842636
- Item type:
- chapter

- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691153896.003.0001
- Subject:
- Mathematics, Applied Mathematics

This chapter presents the model of a hybrid system to be used in this volume. The focus is on the data structure and on modeling. The model suggests that the flow set, the flow map, the jump set, and ...
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This chapter presents the model of a hybrid system to be used in this volume. The focus is on the data structure and on modeling. The model suggests that the flow set, the flow map, the jump set, and the jump map can be specialized to capture the dynamics of purely continuous-time or discrete-time systems on ℝn. The former corresponds to a flow set equal to ℝn and an empty jump set, while the latter can be captured with an empty flow set and a jump set defined as ℝn. In addition, several examples of hybrid systems are given, including models of hybrid control systems. The model of a hybrid system is then related to other modeling frameworks; such as hybrid automata, impulsive differential equations, and switching systems.Less

This chapter presents the model of a hybrid system to be used in this volume. The focus is on the data structure and on modeling. The model suggests that the flow set, the flow map, the jump set, and the jump map can be specialized to capture the dynamics of purely continuous-time or discrete-time systems on ℝ^{n}. The former corresponds to a flow set equal to ℝ^{n} and an empty jump set, while the latter can be captured with an empty flow set and a jump set defined as ℝ^{n}. In addition, several examples of hybrid systems are given, including models of hybrid control systems. The model of a hybrid system is then related to other modeling frameworks; such as hybrid automata, impulsive differential equations, and switching systems.

*Thomas A. Weber*

- Published in print:
- 2011
- Published Online:
- August 2013
- ISBN:
- 9780262015738
- eISBN:
- 9780262298483
- Item type:
- chapter

- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262015738.003.0001
- Subject:
- Mathematics, Probability / Statistics

This chapter first sets out the book’s purpose, which is to introduce continuous-time systems and methods for solving dynamic optimization problems at three different levels: single-person decision ...
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This chapter first sets out the book’s purpose, which is to introduce continuous-time systems and methods for solving dynamic optimization problems at three different levels: single-person decision making, games, and mechanism design. It presents a brief history of optimal control. An overview of the subsequent chapters is also presented.Less

This chapter first sets out the book’s purpose, which is to introduce continuous-time systems and methods for solving dynamic optimization problems at three different levels: single-person decision making, games, and mechanism design. It presents a brief history of optimal control. An overview of the subsequent chapters is also presented.

*Thomas A. Weber*

- Published in print:
- 2011
- Published Online:
- August 2013
- ISBN:
- 9780262015738
- eISBN:
- 9780262298483
- Item type:
- book

- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262015738.001.0001
- Subject:
- Mathematics, Probability / Statistics

This book bridges optimal control theory and economics, discussing ordinary differential equations (ODEs), optimal control, game theory, and mechanism design in one volume. Technically rigorous and ...
More

This book bridges optimal control theory and economics, discussing ordinary differential equations (ODEs), optimal control, game theory, and mechanism design in one volume. Technically rigorous and largely self-contained, it provides an introduction to the use of optimal control theory for deterministic continuous-time systems in economics. The theory of ordinary differential equations is the backbone of the theory developed in the book, and Chapter 2 offers a detailed review of basic concepts in the theory of ODEs, including the solution of systems of linear ODEs, state-space analysis, potential functions, and stability analysis. Following this, the book covers the main results of optimal control theory, in particular necessary and sufficient optimality conditions; game theory, with an emphasis on differential games; and the application of control-theoretic concepts to the design of economic mechanisms. Appendices provide a mathematical review and full solutions to all end-of-chapter problems. The material is presented at three levels: single-person decision making; games, in which a group of decision makers interact strategically; and mechanism design, which is concerned with a designer’s creation of an environment in which players interact to maximize the designer’s objective. The book focuses on applications; the problems are an integral part of the text.Less

This book bridges optimal control theory and economics, discussing ordinary differential equations (ODEs), optimal control, game theory, and mechanism design in one volume. Technically rigorous and largely self-contained, it provides an introduction to the use of optimal control theory for deterministic continuous-time systems in economics. The theory of ordinary differential equations is the backbone of the theory developed in the book, and Chapter 2 offers a detailed review of basic concepts in the theory of ODEs, including the solution of systems of linear ODEs, state-space analysis, potential functions, and stability analysis. Following this, the book covers the main results of optimal control theory, in particular necessary and sufficient optimality conditions; game theory, with an emphasis on differential games; and the application of control-theoretic concepts to the design of economic mechanisms. Appendices provide a mathematical review and full solutions to all end-of-chapter problems. The material is presented at three levels: single-person decision making; games, in which a group of decision makers interact strategically; and mechanism design, which is concerned with a designer’s creation of an environment in which players interact to maximize the designer’s objective. The book focuses on applications; the problems are an integral part of the text.