Optimal strategies in linear multisector models: Value function and optimality conditions

DOI10.1016/j.jmateco.2007.05.002zbMath1141.91624OpenAlexW1996985160MaRDI QIDQ2468508

Fausto Gozzi, Cristina Pignotti, Giuseppe Freni

Publication date: 24 January 2008

Published in: Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jmateco.2007.05.002

zbMATH Keywords

optimality conditionsendogenous growthviscosity solutionsoptimal control with mixed constraintsmultisector linear models

Mathematics Subject Classification ID

Dynamic programming in optimal control and differential games (49L20) Multisectoral models in economics (91B66) Economic growth models (91B62) Viscosity solutions to Hamilton-Jacobi equations in optimal control and differential games (49L25) Optimality conditions for problems involving ordinary differential equations (49K15)

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Optimal control with state constraint and non-concave dynamics: a model arising in economic growth ⋮ Fifty years of mathematical growth theory: classical topics and new trends ⋮ Existence of optimal strategies in linear multisector models with several consumption goods ⋮ Internal habits formation and optimality ⋮ Multiple solutions in systems of functional differential equations ⋮ Solving optimal growth models with vintage capital: The dynamic programming approach

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