On the relation between turnpike properties for finite and infinite horizon optimal control problems (Q2412828)

From MaRDI portal
scientific article
Language Label Description Also known as
English
On the relation between turnpike properties for finite and infinite horizon optimal control problems
scientific article

    Statements

    On the relation between turnpike properties for finite and infinite horizon optimal control problems (English)
    0 references
    0 references
    0 references
    0 references
    27 October 2017
    0 references
    In this paper, under some regularity conditions, the relation between turnpike properties for two classes of optimal control problems is investigated: finite horizon optimal control problems and infinite horizon optimal control problems. More precisely, it is proved that the turnpike property occurs in the finite horizon optimal control problem if and only if it occurs in the infinite horizon optimal control problem involving the same stage cost. More accurate, these turnpike properties are equivalent under appropriate technical hypotheses. Moreover, the result is proved for both undiscounted and discounted problems.
    0 references
    0 references
    0 references
    finite horizon optimal control
    0 references
    infinite horizon optimal control
    0 references
    optimal equilibrium
    0 references
    regularity
    0 references
    0 references