The paper provides a continuous-time version of the discrete-time Mitra–Wan model of optimal forest management, where trees are harvested to maximize the utility of timber flow over an infinite time horizon. The available trees and the other parameters of the problem vary continuously with...

The problem of a firm willing to optimally promote and sell a single product on the market is here undertaken. The awareness of such product is modeled by means of a Nerlove–Arrow goodwill as a state variable, differentiated jointly by means of time and of age of the segments in which the...

The problem of a firm willing to optimally promote and sell a single product on the market is here undertaken. The awareness of such product is modeled by means of a Nerlove–Arrow goodwill as a state variable, differentiated jointly by means of time and of age of the segments in which the...

A survey and some new results are presented concerning the dynamic programming for a class of optimal control problems of partial differential equations with age-structure and of delay systems that include some applied examples from economic theory and from population dynamics. A general optimal...

A family of optimal control problems for economic models, where state variables are driven by delay differential equations (DDEs) and subject to constraints, is treated by Bellman's dynamic programming in infinite dimensional spaces. An existence theorem is provided for the associated...

The dynamic programming approach for a family of optimal investment models with vintage capital is here developed. The problem falls into the class of infinite horizon optimal control problems of PDE's with age structure that have been studied in various papers ([Barucci and Gozzi, 1998],...