Optimal solutions to the infinite horizon problems: Constructing the optimum as the limit of the solutions for the finite horizon problems
β Scribed by Dapeng Cai; Takashi Gyoshin Nitta
- Book ID
- 108216345
- Publisher
- Elsevier Science
- Year
- 2009
- Tongue
- English
- Weight
- 249 KB
- Volume
- 71
- Category
- Article
- ISSN
- 0362-546X
No coin nor oath required. For personal study only.
π SIMILAR VOLUMES
Many papers in economics have been written using optimal control theory with what appear to be diverse models. The qualitative results developed in the papers have been related only to the specific model at hand. This paper shows that most of the useful qualitative results occur because the same sma
We characterize in this paper the epigraph of the value function of a discounted infinite horizon optimal control problem as the viability kernel of an auxiliary differential inclusion. Then the viability kernel algorithm applied to this problem provides the value function of the discretized optimal