Brief history of optimal control theory and some recent developments

Speaker: Isabelle Kemajou, University of Minnesota

Date & Time:

Wednesday, April 16, 2014
7:00 PM - 8:00 PM



Abstract: Optimal control theory has been very well developed in the past years out of the need to derive a control policy such that a certain optimality criterion is reached. After a brief introduction on the starting point and evolution of this topic, I shall discuss  some formulations in both deterministic and stochastic cases. The shadow price of a resource with some specific consideration is the key to understanding the economic interpretation of optimal control theory. I shall discuss an example of connection between optimal control and shadow price. 

Biographical information: Dr. Isabelle Kemajou-Brown, MCFAM Postdoc and visiting assistant professor in the School of Mathematics at the University of Minnesota - Twin-cities. She earned her Ph.D in July 2012 from Southern Illinois University in Carbondale, Illinois (SIUC). Her research interests include Stochastic Analysis and Applications as well as Statistics. She served as an instructor at SIUC in the Mathematics Department teaching Probability, Linear Programming, Business Calculus and College Algebra. Prior to teaching at SIUC, she spent 12 years teaching high school mathematics in Cameroon. Dr. Brown has thought undergraduate mathematics such as Calculus I and II as well as Algebra.

In addition to Mathematical Background for Finance course in the MFM program, Dr. Brown has been teaching in the School of Mathematics at UMN Stochastic Processes, Probability and Statistics classes.

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