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Application of an Intelligent Control on Economics Dynamic System: The Attractive Invariant Ellipsoid Approach

Application of an Intelligent Control on Economics Dynamic System: The Attractive Invariant... In this paper, we explore the application of attractive ellipsoid methodology (Poznyak et al. in Attractive ellipsoids in robust control. Springer, Berlin, 2014) on a new demand and supply model. The balance between the demand and supply is expressed by the Lin and Yang model (Li and Yang in Int J Bifurc Chaos 27(01):1750016, 2017), described by differential equations, even if in the such a demand-supply model, other factors change and have significant effect on demand-supply dynamics. Analysis is compared with the situation when the prices of most products do not stay close to their equilibrium values and the Li and Yang demand and supply model is described by both ordinary differential equation and differential algebraic equation system. To achieve a specific economic goal, we will be able to design a management strategy based on minimum size of the invariant attractive ellipsoid, associated with the dynamic system, with a good performance in the rejection of external disturbances. We can consider a new transformed problem instead of the original problem with respect to solvability and related questions. Theoretical results are illustrated by an example. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Mathematics in Computer Science Springer Journals

Application of an Intelligent Control on Economics Dynamic System: The Attractive Invariant Ellipsoid Approach

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References (17)

Publisher
Springer Journals
Copyright
Copyright © 2019 by Springer Nature Switzerland AG
Subject
Mathematics; Mathematics, general; Computer Science, general
ISSN
1661-8270
eISSN
1661-8289
DOI
10.1007/s11786-019-00402-x
Publisher site
See Article on Publisher Site

Abstract

In this paper, we explore the application of attractive ellipsoid methodology (Poznyak et al. in Attractive ellipsoids in robust control. Springer, Berlin, 2014) on a new demand and supply model. The balance between the demand and supply is expressed by the Lin and Yang model (Li and Yang in Int J Bifurc Chaos 27(01):1750016, 2017), described by differential equations, even if in the such a demand-supply model, other factors change and have significant effect on demand-supply dynamics. Analysis is compared with the situation when the prices of most products do not stay close to their equilibrium values and the Li and Yang demand and supply model is described by both ordinary differential equation and differential algebraic equation system. To achieve a specific economic goal, we will be able to design a management strategy based on minimum size of the invariant attractive ellipsoid, associated with the dynamic system, with a good performance in the rejection of external disturbances. We can consider a new transformed problem instead of the original problem with respect to solvability and related questions. Theoretical results are illustrated by an example.

Journal

Mathematics in Computer ScienceSpringer Journals

Published: Jul 4, 2019

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