Mathematical Modeling of Household Economy in Russia

Abstract

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.