Dynamic Shareholder Behaviour under Personal Taxation: A Note

Optimal Control Theory

“…For control theory applications to economics, see Tu (1969) and Southwick and Zionts (1974) for optimal educational investments, Kamien and Schwartz (1971b) for limit pricing and imcertain entry, Treadway (1970) for adjustment costs in the theory of competitive firms, Vousden (1974) for international trade, Harris (1976) for money demand with transaction costs, Raviv (1979) for the design of an optimal insurance pohcy, Sethi and McGuire (1977) for optimal training and heterogeneous labor, Arthur and McNicoU (1977) for population policy, Brito and Oakland (1977) for optimal income tax, Thompson (1982aThompson ( , 1982b for continuous expanding economies, Thepot (1983) for investment and marketing policies in a duopoly, Verheyen (1985) for a theory of firm under government regulations, Hartl and Mehlmann (1986) for renumeration patterns for medical services, Schijndel (1986) for dynamic shareholder behavior under personal taxation, Hartl and Kort (1997) for optimal input substitution in response to environmental constraints, and Feichtinger, Hartl, Haunschmied, and Kort (1998) for optimal crackdowns on a drug market.…”