Control of nonlinear delay differential equations in W2(1) with economic applications

摘要

The control of economic system's growth with delay is formulated to illustrate Euclidean (En) and function space (W2(1)) controllability of a general nonlinear delay equation. Sufficient conditions are given, in terms of the control matrix, for controllability of the general nonlinear system. These conditions are shown to be necessary for W2(1) controllability. The theory is then applied to a simple dynamics of gross national product and interest rate. The concept of function space controllability is very appropriate: once the target is hit, it remains on a certain growing function for some time.