Practical exponential stability of stochastic age-dependent capital system with Lévy noise.

It is well known that stability is one of most important topics in economy and control. In this paper, we focus on the practical stability problem for a class of stochastic age-dependent (vintage) capital system with Levy noise. Compared with the classical Lyapunov stability theory, practical stability can depict not only qualitative behavior but also quantitative properties, such as specific trajectory bounds and specific transient behavior. With the help of the stochastic analysis theory and Ito's formula, we establish some novel criteria for the mean square and almost sure practical exponential stability of the addressed system. The obtained results improve some previous works given in the literature. Moreover, an example is provided to illustrate the theoretical results. (C) 2020 Elsevier B.V. All rights reserved.