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Sensitivity Analysis

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Abstract

We have seen that Optimal Control theory is concerned with finding a control vector u(t) to steer the dynamic system in an optimal manner, i.e., in order to maximize or minimize an objective functional. State variables x(t) are thus controlled. All this, however, takes place as of a certain environment characterised by some parameter vector α(t). For a given u*(t), a change in one or more parameters causes a corresponding change in the dynamic system and hence in the objective achieved. Sensitivity analysis studies the displacement of the dynamic system or objective functional in response to such a change in parameters.

Keywords

Demand Curve Sensitivity Function Optimal Control Theory Sensitivity System Homogeneous Part 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 1984

Authors and Affiliations

  1. 1.Department of EconomicsThe University of CalgaryN. W. CalgaryCanada

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