Small brained PhD student here.
Why would we use hamiltonians in economics? like when do we ever have a dynamic constraint?
Small brained PhD student here.
Why would we use hamiltonians in economics? like when do we ever have a dynamic constraint?you are working with a continuous time optimization problem? Is this a trick question?
Yeah but dynamic constraints and being constrained by laws of motion is a bit confusing.
I see how laws of motion work to guaranteeing a stationary solution but using this framework is pretty new to me.
any articles are helpful
chapter
Small brained PhD student here.
Why would we use hamiltonians in economics? like when do we ever have a dynamic constraint?you are working with a continuous time optimization problem? Is this a trick question?
Yeah but dynamic constraints and being constrained by laws of motion is a bit confusing.
I see how laws of motion work to guaranteeing a stationary solution but using this framework is pretty new to me.
any articles are helpful
Chapter 7 of Acemoglu
chapter
Small brained PhD student here.
Why would we use hamiltonians in economics? like when do we ever have a dynamic constraint?you are working with a continuous time optimization problem? Is this a trick question?
Yeah but dynamic constraints and being constrained by laws of motion is a bit confusing.
I see how laws of motion work to guaranteeing a stationary solution but using this framework is pretty new to me.
any articles are helpfulChapter 7 of Acemoglu
Damn son im livin in the SLP and RMT life tho
Most of your first semester macro classI used legrangians there tho, like for solving ADCE
I wasn’t clear, continuous time optimization is usually covered in the growth half of the macro sequence. Whatever semester you learn growth (1st semester at most places) is when you deal with a lot of hamiltonians
Most of your first semester macro classI used legrangians there tho, like for solving ADCE
I wasn’t clear, continuous time optimization is usually covered in the growth half of the macro sequence. Whatever semester you learn growth (1st semester at most places) is when you deal with a lot of hamiltonians
Oh man my uni is holding out then.
Most of your first semester macro class
I used legrangians there tho, like for solving ADCE
I wasn’t clear, continuous time optimization is usually covered in the growth half of the macro sequence. Whatever semester you learn growth (1st semester at most places) is when you deal with a lot of hamiltonians
Oh man my uni is holding out then.
I've only done discrete time for first half
Most of your first semester macro class
I used legrangians there tho, like for solving ADCE
I wasn’t clear, continuous time optimization is usually covered in the growth half of the macro sequence. Whatever semester you learn growth (1st semester at most places) is when you deal with a lot of hamiltonians
Oh man my uni is holding out then.
What ranking is your university
What ranking is your universityMRM
I’m just curious, what topics are covered in your macro sequence
Market structures Arrow Debreu,Radner,Planners problem in deterministic cases and stochastic and Dynamic programming and defining contraction mappings.
my second macro sequence is very specific so I dont want to give my place away
What ranking is your university
MRM
I’m just curious, what topics are covered in your macro sequence
Market structures Arrow Debreu,Radner,Planners problem in deterministic cases and stochastic and Dynamic programming and defining contraction mappings.
my second macro sequence is very specific so I dont want to give my place away
Then I guess my department spent too much time on endogenous growth
I think get yourself a copy if further mathematics for economists by Sydaester and Hammond. There are PDF’s available by illicit means. It motivates the discussion by calculus of variations but then covers optimal control theory with many great examples and tons of intuition. There are also earlier chapters on ODEs in case you are rusty on them.
Since you’re at a MRM material well within your grasp, should take on weekend max to go through the relevant parts of the book. Continuous time offers analytic and computational advantages so worth having in your toolkit. Surprised there are MRMs which don’t cover it.