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Titlebook: Optimal Control Theory; Applications to Mana Suresh P. Sethi Textbook 2021Latest edition Springer Nature Switzerland AG 2021 Optimization.S

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Applications to Economics,on or economic growth models are presented. The first is a finite-horizon fixed-end-point model with a stationary population. Its aim is to maximize the present value of the utility of consumption for the society, as well as to accumulate a specified capital stock by the end of the horizon. The seco
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Differential Games,ential equations, then we require an extension of the optimal control theory referred to as the .. While representing a generalization of optimal control problems in cases where there is more than one controller or player, differential games are conceptually far more complex than optimal control pro
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Suresh P. Sethi by a continuous degradation process. Different from previous studies which assume that the system fails when the degradation level exceeds a specific threshold, this chapter argues that the degradation itself does not directly lead to system failure, but increases the failure risk of the system. Th
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Suresh P. Sethinvironmental conditions, are gaining importance over time. In this chapter, reliability models are adapted to incorporate monitoring data on operating assets, as well as information on their environmental conditions, in their calculations. To that end, a logical decision tool based on two artificial
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Suresh P. Sethitructures. The book aims to foster a future perspective that takes advantage of value-based and intelligent asset management in order to make a step forward with respect to the evolution observed nowadays. Indeed, the current understanding of asset management is primarily supported by well-known sta
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