Existence of finitely optimal solutions for infinite-horizon optimal control problems (Q1067192): Difference between revisions
From MaRDI portal
Added link to MaRDI item. |
Set profile property. |
||
Property / MaRDI profile type | |||
Property / MaRDI profile type: MaRDI publication profile / rank | |||
Normal rank |
Revision as of 03:04, 5 March 2024
scientific article
Language | Label | Description | Also known as |
---|---|---|---|
English | Existence of finitely optimal solutions for infinite-horizon optimal control problems |
scientific article |
Statements
Existence of finitely optimal solutions for infinite-horizon optimal control problems (English)
0 references
1986
0 references
We investigate the existence of finitely optimal solutions for the Lagrange problem of optimal control defined on \([0,+\infty)\) under weaker convexity and seminormality hypotheses than those of previous authors. The notion of finite optimality has been introduced into the literature as the weakest of a hierarchy of types of optimality that have been defined to permit the study of Lagrange problems, arising in mathematical economics, whose cost functionals either diverge or are not bounded below. Our method of proof requires us to analyze the continuous dependence of finite-interval Lagrange problems with respect to a prescribed terminal condition. Once this is done, we show that a finitely optimal solution can be obtained as the limit of a sequence of solutions to a sequence of corresponding finite-horizon optimal control problems. Our results utilize the convexity and seminormality hypotheses which are now classical in the existence theory of optimal control.
0 references
infinite horizons
0 references
finitely optimal solutions
0 references
Lagrange problem
0 references
continuous dependence
0 references