Absolutely isolated singularities of holomorphic vector fileds.
On the Optimal Control of Some Parabolic Partial Differential Equations Arising in Economics
We review an emerging application field to parabolic partial differential equations (PDEs), that’s economic growth theory. After a short presentation of concrete applications, we highlight the peculiarities of optimal control problems of parabolic PDEs with infinite time horizons. In particular, the heuristic application of the maximum principle to the latter leads to single out a serious ill-posedness problem, which is, in our view, a barrier to the use of parabolic PDEs in economic growth studies...
Page 1