Dynamic optimality principles and sensitivity analysis in models of economic growth

A dynamic model of investment process for an innovator in a market environm ent is designed. The "light" dynamics of innovator is described by the syst em of exponential trajectories with quickly changeable growth parameters. T he innovator operates in the inert market environment presented by "heavy" exponential trajectories. The model consists of three decision making level s for dynamical identification, optimization of the commercialization time and optimal control design. On the first level the innovator makes assessme nt for the market commercialization time using econometric characteristics of the current state of the market. On the second level the innovator optim izes its commercialization time basing on its own current technology stock and taking into account the forecast of the market commercialization time. On the third level the innovator solves an optimization problem for the inn ovation policy minimizing investment expenditures. Properties of sensitivit y and robustness are investigated for the optimal profit result and innovat ion feedbacks.