A turnpike theorem for continuous-time control systems when the optimal stationary point is not unique (Q1811853): Difference between revisions

Within the field of economic growth modeling, a particular role is played by stationary growth processes, called turnpikes. Relations between optimal processes and turnpikes are described by turnpike theorems. Majority of these theorems are proved under assumption of: -- discrete time, -- convex environment, -- uniqueness of turnpike. In the paper the author proves a turnpike theorem: \(\bullet\) for continuous time, where dynamics is described by differential inclusion, \(\bullet\) possible nonconvexites, \(\bullet\) there is a favorite number of turnpikes. The author gives a new insight into the theory of economic growth.