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  2. Convergence (economics) - Wikipedia

    en.wikipedia.org/wiki/Convergence_(economics)

    The theory also assumes that technology is freely traded and available to developing countries that are attempting to catch-up. Capital that is expensive or unavailable to these economies can also prevent catch-up growth from occurring, especially given that capital is scarce in these countries.

  3. Control variable - Wikipedia

    en.wikipedia.org/wiki/Control_variable

    A variable in an experiment which is held constant in order to assess the relationship between multiple variables [a], is a control variable. [2] [3] A control variable is an element that is not changed throughout an experiment because its unchanging state allows better understanding of the relationship between the other variables being tested. [4]

  4. Optimal control - Wikipedia

    en.wikipedia.org/wiki/Optimal_control

    An optimal control is a set of differential equations describing the paths of the control variables that minimize the cost function. The optimal control can be derived using Pontryagin's maximum principle (a necessary condition also known as Pontryagin's minimum principle or simply Pontryagin's principle), [8] or by solving the Hamilton ...

  5. Controllability - Wikipedia

    en.wikipedia.org/wiki/Controllability

    The state of a deterministic system, which is the set of values of all the system's state variables (those variables characterized by dynamic equations), completely describes the system at any given time. In particular, no information on the past of a system is needed to help in predicting the future, if the states at the present time are known ...

  6. Control theory - Wikipedia

    en.wikipedia.org/wiki/Control_theory

    In contrast to the frequency domain analysis of the classical control theory, modern control theory utilizes the time-domain state space representation, [citation needed] a mathematical model of a physical system as a set of input, output and state variables related by first-order differential equations. To abstract from the number of inputs ...

  7. State-space representation - Wikipedia

    en.wikipedia.org/wiki/State-space_representation

    The internal state variables are the smallest possible subset of system variables that can represent the entire state of the system at any given time. [13] The minimum number of state variables required to represent a given system, , is usually equal to the order of the system's defining differential equation, but not necessarily. If the system ...

  8. Costate equation - Wikipedia

    en.wikipedia.org/wiki/Costate_equation

    The costate variables () can be interpreted as Lagrange multipliers associated with the state equations. The state equations represent constraints of the minimization problem, and the costate variables represent the marginal cost of violating those constraints; in economic terms the costate variables are the shadow prices.

  9. State variable - Wikipedia

    en.wikipedia.org/wiki/State_variable

    In control engineering and other areas of science and engineering, state variables are used to represent the states of a general system. The set of possible combinations of state variable values is called the state space of the system. The equations relating the current state of a system to its most recent input and past states are called the ...