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The taxation principle and multi-time Hamilton-Jacobi equations

Rochet, Jean-Charles (1985), The taxation principle and multi-time Hamilton-Jacobi equations, Journal of Mathematical Economics, 14, 2, p. 113-128. http://dx.doi.org/10.1016/0304-4068(85)90015-1

Type
Article accepté pour publication ou publié
Date
1985
Journal name
Journal of Mathematical Economics
Volume
14
Number
2
Publisher
Elsevier
Pages
113-128
Publication identifier
Metadata
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Author(s)
Rochet, Jean-Charles
Abstract (EN)
Problems arising in economic theory are usually solved by use of mathematical techniques. Here, we propose an example of the contrary: every system of first order partial differential equations of a certain type can be solved by use of an economics principle. For the case of a single equation, our approach is in some sense dual to the usual optimal control method.
Subjects / Keywords
Hamilton-Jacobi equations