Method of dynamic programming (MDP) of Bellman is exceptionally efficient for solving a wide class of tasks of economic and mathematical modelling. In a number of cases MDP has no alternative. Meanwhile, statements of specialists with respect to correctness of justification of MDP and also with...

In this paper we continue the study of distributional systems (drift less control affine systems) with quadratic cost and no constant rank of distribution. We will use the Pontyagin Maximum Principle and the constants variation method for nonhomogeneous second order differential equations to...

We formulate an overlapping generations model on optimal emissions with continuous age structure. We compare the noncooperative solution to the cooperative one and obtain fundamental differences in the optimal strategies. Also including an altruistic motive does not avoid the problem of the...