State constrained control problems in Banach lattices and applications

DOI10.1137/20M1376959zbMATH Open1479.49010arXiv2009.11268MaRDI QIDQ5013565FDOQ5013565

Authors: Alessandro Calvia, Salvatore Federico, Fausto Gozzi 

Publication date: 1 December 2021

Published in: SIAM Journal on Control and Optimization (Search for Journal in Brave)

Abstract: This paper aims to study a family of deterministic optimal control problems in infinite dimensional spaces. The peculiar feature of such problems is the presence of a positivity state constraint, which often arises in economic applications. To deal with such constraints, we set up the problem in a Banach space with a Riesz space structure (i.e., a Banach lattice) not necessarily reflexive: a typical example is the space of continuous functions on a compact set. In this setting, which seems to be new in this context, we are able to find explicit solutions to the Hamilton-Jacobi-Bellman (HJB) equation associated to a suitable auxiliary problem and to write the corresponding optimal feedback control. Thanks to a type of infinite dimensional Perron-Frobenius Theorem, we use these results to get information about the optimal paths of the original problem. This was not possible in the infinite dimensional setting used in earlier works on this subject, where the state space was an $mathrm{L}^2$ space.

Full work available at URL: https://arxiv.org/abs/2009.11268

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zbMATH Keywords

dynamic programmingHamilton-Jacobi-Bellman equationstate constraintsBanach latticeoptimal control in infinite dimensionAK model of economic growth

Mathematics Subject Classification ID

Hamilton-Jacobi equations (35F21) Optimality conditions for problems in abstract spaces (49K27) Banach lattices (46B42) Optimal feedback synthesis (49N35) Control/observation systems in abstract spaces (93C25) Existence theories for problems in abstract spaces (49J27)

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Cited In (14)

• Control theory in infinite dimension for the optimal location of economic activity: the role of the social welfare function
• Large deviation principle for spatial economic growth model on networks
• An optimal control problem with state constraints in a spatio-temporal economic growth model on networks
• HJB equations and stochastic control on half-spaces of Hilbert spaces
• A stochastic model of economic growth in time-space
• On the choice of the function spaces for some state-constrained control problems
• Constrained retarded nonlinear optimal control problems in Banach state space
• A dynamic theory of spatial externalities
• Necessary conditions for similarity between two lattice differential equations
• Linear systems with state constraints in Banach spaces
• Modeling economic growth with spatial migration: a stability analysis of the long-run equilibrium based on semigroup theory
• Spatial growth theory: optimality and spatial heterogeneity
• Modeling and computation of an integral operator Riccati equation for an infinite-dimensional stochastic differential equation governing streamflow discharge
• Nonsmooth control problems in banach state space

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