Infinite-Horizon Optimal Control with Applications in Growth Theory (Lecture Notes)

Aseev SM (2009). Infinite-Horizon Optimal Control with Applications in Growth Theory (Lecture Notes). MSU CMC Publications Department, MAKS Press, Moscow, Russia

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Abstract

These lecture notes provide an introduction to the optimal control theory with a focus on recent achievements in the area of infinite-horizon optimal control. In particular, they present the recently developed "finite-horizon approximation" approach to deriving a modified maximum principle targeted specifically to infinite-horizon optimal control problems. The neoclassical optimal economic growth model with the logarithmic instantaneous utility function is considered as an illustrating example.

Item Type: Other
Research Programs: Dynamic Systems (DYN)
Bibliographic Reference: MSU CMC Publications Department, MAKS Press, Moscow, Russia
Depositing User: IIASA Import
Date Deposited: 15 Jan 2016 08:42
Last Modified: 20 Jan 2016 16:45
URI: http://pure.iiasa.ac.at/9032

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