The Pontryagin Maximum Principle for Infinite-Horizon Optimal Controls

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/4970 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/4970 http://eprints.org/relation/isCoversheetVersionOf https://pure.iiasa.ac.at/id/document/4970 archive 351 disk0/00/00/70/68 2016-01-15 02:15:59 2021-08-27 17:18:23 2016-01-15 02:15:59 monograph show 2 Aseev S.M. 6509 Kryazhimskiy A.V. 1514 The Pontryagin Maximum Principle for Infinite-Horizon Optimal Controls pub iis_ecn iis_met iis_mod prog_dyn this paper (motivated by recent works on optimization of long-term economic growth) suggests some further developments in the theory of first-order necessary optimality conditions for problems of optimal control with infinite time horizons. We describe an approximation technique involving auxiliary finite-horizon optimal control problems and use it to prove new versions of the Pontryagin maximum principle. A special attention is paid to behavior of the adjoint variables and the Hamiltonian. Typical cases, in which standard transversality conditions hold at infinity, are described. Several significant earlier results are generalized. 2003-04 published IR-03-013 IR-03-013 19 1393 public interim_report IIASA, Laxenburg, Austria 34 FALSE info:eu-repo/semantics/book