Direct optimization methods for solving a complex state-constrained optimal control problem in microeconomics

DOI10.1016/j.amc.2008.05.035zbMath1151.91612OpenAlexW2169177734MaRDI QIDQ2518630

Helmut Maurer, Hans Josef Pesch

Publication date: 16 January 2009

Published in: Applied Mathematics and Computation (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.amc.2008.05.035

zbMATH Keywords

direct optimization methodsstate inequality constraintsbang-bang and singular controlcontrol of stocklabor and capitalmicroeconomic control modelverification of necessary and sufficient conditions

Mathematics Subject Classification ID

Applications of optimal control and differential games (49N90) General equilibrium theory (91B50)

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Uses Software

• AMPL
• Ipopt

Cites Work

• In optimal control problem in economics with four linear controls
• SQP-methods for solving optimal control problems with control and state constraints: Adjoint variables, sensitivity analysis and real-time control
• On the implementation of an interior-point filter line-search algorithm for large-scale nonlinear programming
• On Optimal Control Problems with Bounded State Variables and Control Appearing Linearly
• A Survey of the Maximum Principles for Optimal Control Problems with State Constraints
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