Mathematical Modeling of Household Economy in Russia

Abstract: An optimal control problem modeling the economic behavior of a representative household is studied. The existence of its solution is proved, necessary optimality conditions in the form of the Pontryagin–Clarke maximum principle are obtained, and an optimal control synthesis is constructed. The model is identified against Russian statistical data. The model is used to analyze consumer crediting in Russia and its influence on the household economy under COVID-19 pandemic conditions. © 2021, Pleiades Publishing, Ltd.

Authors
Shananin A.A. 1, 2, 3, 4 , Tarasenko M.V.5 , Trusov N.V.1, 2, 3
Journal
Computational Mathematics and Mathematical Physics
Number of issue
6
Language
English
Pages
1030-1051
Status
Published
Link
External link
DOI
10.1134/S0965542521060130
Volume
61
Year
2021
Organizations
  • 1 Faculty of Computational Mathematics and Cybernetics, Lomonosov Moscow State University, Moscow, 119991, Russian Federation
  • 2 Federal Research Center “Computer Science and Control,” Russian Academy of Sciences, Moscow, 119333, Russian Federation
  • 3 Moscow Institute of Physics and Technology (National Research University), Dolgoprudnyi, Moscow oblast, 141701, Russian Federation
  • 4 Рeoples’ Friendship University of Russia (RUDN University), Moscow, 117198, Russian Federation
  • 5 Lomonosov MSU Business School, Moscow, 119234, Russian Federation
Keywords
consumer credit; mathematical modeling; maximum principle; optimal control synthesis; Ramsey model; regression analysis
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