Approximate Euler-Lagrange inclusion, approximate transversality condition, and sensitivity analysis of convex parametric problems of calculus of variations (Q1332552)
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English | Approximate Euler-Lagrange inclusion, approximate transversality condition, and sensitivity analysis of convex parametric problems of calculus of variations |
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Approximate Euler-Lagrange inclusion, approximate transversality condition, and sensitivity analysis of convex parametric problems of calculus of variations (English)
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31 August 1994
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The first-order behaviour of the optimal value function associated to a convex parametric problem of calculus of variations has been studied. The approach mentioned in the paper does not assume the existence of optimal trajectories for the unperturbed problem. The concepts of approximate Euler-Lagrange inclusion and approximate transversality condition are key ingredients in the formulation of the sensitivity results. In the last section a specific variational calculus problem arising in the theory of utility maximization is discussed.
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first-order behaviour of the optimal value function
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convex parametric problem
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calculus of variations
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approximate transversality condition
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