Abstract
In the Introduction to their seminal 1986 book on Optimal Control Feichtinger and Hartl paraphrase Joseph Schumpeter’s famous quote that dealing with capitalist economies without taking into account dynamics is like Hamlet without the prince of Denmark. A similar statement certainly applies also to the analysis of firm behavior. Dynamic aspects are of crucial importance for almost any area of managerial decision making. Firms are exposed to changing market environments and technological landscapes and can actively influence these developments among others through marketing activities or by investing in the development of product innovations or of new technologies. On an operational level firms face challenging dynamic planning problems when designing their production processes, supply chains and distribution logistics. All these different dynamic challenges gave rise to highly active areas of research, but there are very few scholars who have been able to make contributions to research on managerial decision making in several of these operational and strategic domains. Richard F. Hartl is one of them. His highly influential research covers domains ranging from daily operational challenges like Vehicle Routing and Scheduling (e.g. Bullnheimer et al. 1999a; Kovacs et al. 2015) to dynamic advertising strategies (e.g. Feichtinger et al. 1994) and strategic decisions of firms like those concerning capital investments in different technologies (e.g. Feichtinger et al. 2006).
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Bullnheimer, B., Hartl, R. F., & Strauss, C. (1999a). An improved ant system algorithm for the vehicle routing problem. Annals of Operations Research, 89, 319–328.
Bullnheimer, B., Hartl, R. F., & Strauss, C. (1999b). A new rank based version of the Ant System: A computational study. Central European Journal of Operations Research, 7(1), 25–38.
Feichtinger, G., & Hartl, R. F. (1986). Optimale Kontrolle ökonomischer Prozesse: Anwendungen des Maximumprinzips in den Wirtschaftswisssenschaften. Berlin: de Gruyter.
Feichtinger, G., Hartl, R. F., Kort, P. M., & Veliov, V. M. (2006). Anticipation effects of technological progress on capital accumulation: A vintage capital approach. Journal of Economic Theory, 126(1), 143–164.
Feichtinger, G., Hartl, R. F., & Sethi, S. P. (1994). Dynamic optimal control models in advertising: Recent developments. Management Science, 40(2), 195–226.
Hartl, R. F. (1987). A simple proof of the monotonicity of the state trajectories in autonomous control problems. Journal of Economic Theory, 41(1), 211–215.
Hartl, R. F., Sethi, S. P., & Vickson, R. (1995). A survey of the maximum principle for optimal control problems with state constraints. SIAM Review, 37(2), 181–218.
Haunschmied, J. L., Kort, P. M., Hartl, R. F., & Feichtinger, G. (2003). A DNS-curve in a two-state capital accumulation model: A numerical analysis. Journal of Economic Dynamics and Control, 27(4), 701–716.
Kamien, M. I., & Schwartz, N. L. (1971). Optimal maintenance and sale age for a machine subject to failure. Management Science, 17(8), B495–B504.
Kovacs, A. A., Golden, B. L., Hartl, R. F., & Parragh, S. N. (2015). The generalized consistent vehicle routing problem. Transportation Science, 49(4), 796–816.
Kovacs, A. A., Parragh, S. N., Dörner, K. F., & Hartl, R. F. (2012). Adaptive large neighborhood search for service technician routing and scheduling problems. Journal of Scheduling, 15(5), 579–600.
Polacek, M., Hartl, R. F., Dörner, K., & Reimann, M. (2004). A variable neighborhood search for the multi depot vehicle routing problem with time windows. Journal of Heuristics, 10(6), 613–627.
Stokey, N. (1998). Are there limits to growth? International Economic Review, 39(1), 1–31.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2016 Springer International Publishing Switzerland
About this chapter
Cite this chapter
Dawid, H., Doerner, K.F., Feichtinger, G., Kort, P.M., Seidl, A. (2016). Introduction. In: Dawid, H., Doerner, K., Feichtinger, G., Kort, P., Seidl, A. (eds) Dynamic Perspectives on Managerial Decision Making. Dynamic Modeling and Econometrics in Economics and Finance, vol 22. Springer, Cham. https://doi.org/10.1007/978-3-319-39120-5_1
Download citation
DOI: https://doi.org/10.1007/978-3-319-39120-5_1
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-39118-2
Online ISBN: 978-3-319-39120-5
eBook Packages: Business and ManagementBusiness and Management (R0)