On the boundedness of optimal controls in the infinite-horizon process

Aseev, S.M. (2015). On the boundedness of optimal controls in the infinite-horizon process. Proceedings of the Steklov Institute of Mathematics 291 38-48. 10.1134/S0081543815080040.

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A class of infinite-horizon optimal control problems that arise in economic applications is considered. A theorem on the nonemptiness and boundedness of the set of optimal controls is proved by the method of finite-horizon approximations and the apparatus of the Pontryagin maximum principle. As an example, a simple model of optimal economic growth with a renewable resource is considered.

Item Type: Article
Additional Information: Original Russian text published in Trudy Matematicheskogo Instituta imeni V.A. Steklova, 291:45-55 [2015]
Subjects: Q Science > QA Mathematics
Research Programs: Advanced Systems Analysis (ASA)
Depositing User: Luke Kirwan
Date Deposited: 18 Jan 2016 13:36
Last Modified: 27 Aug 2021 17:40
URI: http://pure.iiasa.ac.at/11740

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