TY  - GEN
CY  - Vienna, Austria
N1  - SWM/ORCOS Research Report 2016-09
ID  - iiasa13925
UR  - http://orcos.tuwien.ac.at/fileadmin/t/orcos/Research_Reports/2016-09.pdf
A1  - Aseev, S.M.
A1  - Krastanov, M.I.
A1  - Veliov, V.M.
Y1  - 2016/11//
N2  - The paper presents first order necessary optimality conditions of Pontrygin's type for a general class of discrete-time optimal control problems on infinite horizon. The main novelty is that the adjoint function, for which the (local) maximum condition in the Pontryagin principle holds, is explicitly defined for any given optimal state-control process. This is done based on ideas from previous papers of the first and the last authors concerning continuous-time problems. In addition, the obtained (local) maximum principle is in a normal form, and the optimality has the general meaning of weakly overtaking optimality (hence unbounded processes are allowed), which is important for many economic applications. Two examples are given, which demonstrate the applicability of the obtained results in cases where the known necessary optimality conditions fail to identify the optimal solutions.
PB  - Reseach Unit ORCOS, Vienna University of Technology
KW  - discrete-time control systems
KW  -  optimality conditions
KW  -  Pontryagin maximum principle
KW  -  transversality conditions.
TI  - Optimality Conditions for Discrete-Time Optimal Control on Infinite Horizon
AV  - public
EP  - 17
ER  -