ResearchBib Share Your Research, Maximize Your Social Impacts
Sign for Notice Everyday Sign up >> Login

SOLVING THE PROBLEM OF SAVINGS EXPENDITURE OPTIMIZATION

Journal: Science and world (Vol.1, No. 66)

Publication Date:

Authors : ;

Page : 8-11

Keywords : optimal control; function of consumption utility; maximum principle; optimal consumption mode;

Source : Downloadexternal Find it from : Google Scholarexternal

Abstract

The paper studies the optimal control problem associated with the search for a consumption strategy, subject to the full savings expenditure during the schedule date in order to obtain the maximum total consumption utility, taking into account inflation. The solution the problem of savings optimization is carried out in the framework of the maximum principle for the power function of consumption utility. The considered problem allows an analytical solution depending on the relations between the model parameters. As a result, optimal consumption programs (expenditure of funds) were obtained in terms of maximizing utility functionality.

Last modified: 2019-03-06 20:49:30