Transversality conditions for infinite horizon optimality: higher order differential problems

DOI10.1016/J.NA.2009.02.110zbMATH Open1238.49038arXiv1004.3093OpenAlexW2060950509MaRDI QIDQ424384FDOQ424384

Takashi Gyoshin Nitta, Ryuhei Okumura, Dapeng Cai

Publication date: 31 May 2012

Published in: Nonlinear Analysis. Theory, Methods \& Applications. Series A: Theory and Methods (Search for Journal in Brave)

Abstract: In this paper, we examine higher order difference problems. Using the "squeezing" argument, we derive both Euler's condition and the transversality condition. In order to derive the two conditions, two needed assumptions are identified. A counterexample, in which the transversality condition is not satisfied without the two assumptions, is also presented.

Full work available at URL: https://arxiv.org/abs/1004.3093

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zbMATH Keywords

dynamic optimizationinfinite horizonunboundedtransversality conditionhigher order differential problems

Mathematics Subject Classification ID

Optimality conditions for problems in abstract spaces (49K27)

Cites Work

• Transversality Conditions for Some Infinite Horizon Discrete Time Optimization Problems
• On Existence of Weakly Maximal Programmes in a Multi-Sector Economy
• Limit of the solutions for the finite horizon problems as the optimal solution to the infinite horizon optimization problems
• Some Clarifications on the Transversality Condition
• Necessity of Transversality Conditions for Infinite Horizon Problems

Cited In (11)

• General necessary conditions for infinite horizon fractional variational problems
• Necessity of Transversality Conditions for Infinite Horizon Problems
• Title not available (Why is that?)
• Global optimization for the sum of certain nonlinear functions
• Optimal solutions to the infinite horizon problems: constructing the optimum as the limit of the solutions for the finite horizon problems
• Transversality Conditions for Some Infinite Horizon Discrete Time Optimization Problems
• Transversality condition and optimality in a class of infinite horizon continuous time economic models
• A linearized relaxing algorithm for the specific nonlinear optimization problem
• Higher-order infinite horizon variational problems in discrete quantum calculus
• Necessity of a transversality condition in a firm's intertemporal optimization
• Necessary optimality conditions for higher-order infinite horizon variational problems on time scales

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