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Optimal investment policy: An application of Stokes' theorem |
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| Authors: | S P Sethi |
| Institution: | (1) Faculty of Management Studies, University of Toronto, Toronto, Canada |
| Abstract: | An application of the Stokes' theorem is illustrated by solving the two-state problem, with inequality constraints, of Dobell and Ho concerning the optimal investment of resources. Whenever applicable, the Stokes' theorem approach seems to be elegant and parsimonious. |
| Keywords: | Stokes' theorem mathematical economics optimal investment of resources bang-bang control singular arc |
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