Solving economic optimal control problems with system dynamics

Hannu Kivijärvi, Markku Tuominen

Research output: Contribution to journalArticleScientificpeer-review

Abstract

Abstract Considering a simple production system, this paper presents an alternative method based on system dynamics for solving economic and managerial optimal control problems. Such an approach can be helpful in cases where the application of the mathematical optimal control theory is impossible or too laborious for planners or decision makers.
Original languageEnglish
Pages (from-to)138-149
Number of pages12
JournalSYSTEM DYNAMICS REVIEW
Volume2
Issue number2
DOIs
Publication statusPublished - 1986
MoE publication typeA1 Journal article-refereed

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