Controlling a demographic wave in defined contribution pension systems
The paper under review is to provide an important element in optimal system control applicable to a wide range of state-of-the-art systems, and \textit{R. V. Gamkrelidze} [Principles of optimal control theory. Translated from Russian by Karol Makowski. Mathematical Concepts and Methods in Science and Engineering. Vol. 7. New York-London: Plenum Press. XII, 175 p. (1978; Zbl 0401.49001)] looks for a linear time-varying system for control over unit cube \(U\) with piecewise continuous control \(u: [0, T] \to U\) to have a piecewise continuous control \(v\) of the linear time-varying system \(\varepsilon\) close to the \(u\) for every \(\varepsilon > 0\).\N\NSection 2 first gives Buck-Boost converter circuit engineering application, where the system is given by \(L\dot{x}_1 = (1-u)x_2 + u E, C\dot{x}_2 = -(1-u) x_1 - x_2/R\). The Buck-Boost converter circuit system is nonlinear and not necessary related to optimal control, and has very similar approximation problem considered by Gamkrelidze.\N\NSection 3 starts to linearize the Buck-Boost converter circuit system first to LPV with Gamkrelidze (1978) applicable to have \(\varepsilon\) close to the \(u\) for every \(\varepsilon > 0\).\N\NThe rest is the approximating systems in Section 4. The main result approximation theorem is for piecewise control \(U\) over unit cube and for a uniformly global Lipschitz continuous state-time dependent parameter function \(p: D \to P\) there is a pair of \((\delta, q)\) and a piecewise constant \(v: [0, T] \to V\) taking values in the vertices of the unit cube, such that initial condition \(\delta\)- close and \(\varepsilon\) close to the \(u\) for the corresponding approximating system with \(q: D \to P\) parameter function. The approximation theorem follows by the approximation lemma and consider the approximating system with \(\delta\)-close initial condition with parameter \(p\) first, then compare solutions for parameters \(p\) and \(q\) with the same initial condition to apply uniformly global Lipschitz continuous state-time \(p\) and \(q\).\N\NConclusion discusses the possible further extensions for real life applications. This combination technique for optimal control in linear system and \(\delta\)-lemma for nonlinear approximation or parameters shadow results. The idea and method could be extended to stochastic optimal control problem.
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