TY - JOUR
T1 - On ramsey dynamical model and closed-form solutions
AU - Polat, Gülden Gün
AU - Özer, Teoman
N1 - Publisher Copyright:
© 2021 The Authors. Published by Atlantis Press B.V.
PY - 2021/6
Y1 - 2021/6
N2 - 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.
AB - 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.
KW - Economic growth models
KW - Hamiltonian dynamics closed-form solutions
KW - Jacobi last multiplier
KW - Lie point symmetries
KW - Prelle-Singer approach
KW - Ramsey dynamical model
UR - http://www.scopus.com/inward/record.url?scp=85107873369&partnerID=8YFLogxK
U2 - 10.2991/JNMP.K.210103.001
DO - 10.2991/JNMP.K.210103.001
M3 - Article
AN - SCOPUS:85107873369
SN - 1402-9251
VL - 28
SP - 209
EP - 218
JO - Journal of Nonlinear Mathematical Physics
JF - Journal of Nonlinear Mathematical Physics
IS - 2
ER -