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Fields of extremals and infinite horizon optimal control problems

✍ Scribed by Atle Seierstad

Publisher
John Wiley and Sons
Year
1998
Tongue
English
Weight
164 KB
Volume
19
Category
Article
ISSN
0143-2087

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✦ Synopsis

A solution of the maximum principle is optimal if it is 'surrounded' by solutions of the maximum principle, or 'embedded in a field of extremals'. An extension of this well-known principle to infinite horizon problems, is stated, and a proof of it is outlined. It is especially useful in non-concave problems, where sufficient conditions based on concavity fail. The usefulness of such an extension is illustrated in two examples.

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