In Press, Corrected Proof, Available Online: 21 January 2021
On Ramsey Dynamical Model and Closed-Form Solutions
Authors
Gülden Gün Polat1, Teoman Özer2, *
1İstanbul Kültür University, Faculty of Science and Letters, Mathematics and Computer Sciences, 34158 Bakırköy, İstanbul-Turkey
2İstanbul Technical University, Division of Mechanics, Faculty of Civil Engineering, 34469 Maslak, İstanbul-Turkey
*Corresponding author. Email: tozer@itu.edu.tr
Corresponding Author
Teoman Özer
Received 2 July 2020, Accepted 2 January 2021, Available Online 21 January 2021.
- DOI
- https://doi.org/10.2991/jnmp.k.210103.001How to use a DOI?
- Keywords
- Ramsey dynamical model, economic growth models, Lie point symmetries, Prelle-Singer approach, Jacobi last multiplier, Hamiltonian dynamics, closed-form solutions
- Abstract
This study focuses on the analysis of Ramsey dynamical model with current Hamiltonian defining an optimal control problem in a neoclassical growth model by utilizing Lie group theory. Lie point symmetries of coupled nonlinear first-order ordinary differential equations corresponding to first-order conditions of maximum principle are analyzed and then first integrals and corresponding closed-form (analytical) solutions are determined by using Lie point symmetries in conjunction with Prelle-Singer and Jacobi last multiplier methods. Additionally, associated λ-symmetries, adjoint symmetries, Darboux polynomials, and the properties of the model are represented.
- Copyright
- © 2021 The Authors. Published by Atlantis Press B.V.
- Open Access
- This is an open access article distributed under the CC BY-NC 4.0 license (http://creativecommons.org/licenses/by-nc/4.0/).
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TY - JOUR AU - Gülden Gün Polat AU - Teoman Özer PY - 2021 DA - 2021/01 TI - On Ramsey Dynamical Model and Closed-Form Solutions JO - Journal of Nonlinear Mathematical Physics SN - 1776-0852 UR - https://doi.org/10.2991/jnmp.k.210103.001 DO - https://doi.org/10.2991/jnmp.k.210103.001 ID - Polat2021 ER -