We summarize some basic result in dynamic optimization and optimal control theory, focusing on some economic applications.

Many dynamic incentive problems have primal recursive formulations in which utility promises serve as state variables. We associate families of dual recursive problems with these by selectively dualizing constraints. We make transparent the connections between recursive primal and dual...

We study a single-item periodic-review model for the joint pricing and inventory replenishment problem with returns and expediting. Demand in consecutive periods are independent random variables and their distributions are price sensitive. At the end of each period, after the demand is realized,...

A model for thermo-economic analysis and optimization of a hybrid power plant consisting of compressed air energy storage (CAES) coupled with a wind farm and a photovoltaic plant is presented. This kind of plant is aiming to overcome some of the major limitations of renewable energy sources,...