Elements of Numerical Mathematical Economics with Excel

9.4. General cases developed in Excel with fixed and variable terminal points

Now we are ready to develop and analyze fully some general cases, as well as some CoV economic models applied with Excel in the following sections.

Figure 9.3-3 Solver results.

ExAMPLE 1 (ExAMPLE 2 OF   SECTION 9.2   CONTINUED)

Find the extremal of the functional in the following problem:

min J = ∫ 0 2 ( 12 t y + y ' 2 ) d t

s . t . y ( 0 ) = 0 and y ( 2 ) = 8

If you apply the Euler–Lagrange equation, ...