This award supports Professor Dean A. Carlson of the University of Toledo to collaborate in mathematics research with Professor Alain B. Haurie, Department of Management Studies, University of Geneva, Switzerland. They share an interest in the analysis and numerical solutions of dynamic optimization models involving one or several decision makers. Professor Carlson brings to the program a strong theoretical background in dynamical systems and infinite horizon optimal control. Professor Haurie brings extensive experience in modeling economic processes using various optimization models. Uniting this complementary expertise will enable them to work effectively on the development of the theory of dynamical systems and the computational methods permitting solutions based on real data, for a class of models relevant to microeconomic analysis. Dynamical systems are the backbone of modern economic theory and have found applications in studying topics such as economic growth, investment and bargaining, among others. The scientific outcome of this program of research will extend the knowledge dynamical systems that are typical of economic modeling and in the numerical solution permitting a numerical computation of solutions. This area of knowledge provides a framework which may be applied to global economic models that more accurately reflect the true nature of international business activities.
