We consider the problem of determining a sequence of payments among a set of entities that clear (if possible) the liabilities among them. We formulate this as an optimal control problem, which is convex when the objective function is, and therefore readily solved. For this optimal control...

The approach consists of imbedding the original control problem tightly in a convex mathematical programming problem on the space of measures and then solving the latter problem by duality in convex analysis. The dual to the control problem is to find the supremum of all smooth subsolutions to...

This textbook is intended for an introductory graduate level on process control, taught in most engineering curricula. It focuses on the statistical techniques and methods of control and system optimization needed for the mathematical modeling, analysis, simulation, control and optimization of...