Lecture 5 - Calculus of variations, Euler equation, K4

The main story of the course starts here...Calculus of variations:

  • fundamental theorem
  • basic problem
  • Euler equation, 2nd order differential equation, in general nonlinear and time dependent

Local analysis to functionals, increment, variation, necessary conditions for extremum, 

Example of inventory control

Special cases

Sections from the book: Kirk 4