A TURNPIKE PROPERTY OF APPROXIMATE SOLUTIONS OF AN OPTIMAL CONTROL PROBLEM ARISING IN ECONOMIC DYNAMICS

TitleA TURNPIKE PROPERTY OF APPROXIMATE SOLUTIONS OF AN OPTIMAL CONTROL PROBLEM ARISING IN ECONOMIC DYNAMICS
Publication TypeJournal Article
Year of Publication2011
AuthorsZASLAVSKI ALEXANDERJ
JournalDynamic Systems and Applications
Volume20
Start Page395
Pagination27
Date Published2011
ISSN1056-2176
AMS Subject Classification49J99
Abstract

We study the structure of approximate solutions for a class of continuous-time optimal control problems. These optimal control problems arise in economic dynamics and describe a model proposed by Robinson, Solow and Srinivasan. We are interested in turnpike properties of the approximate solutions which are independent of the length of the interval, for all sufficiently large intervals.
PDFhttps://acadsol.eu/dsa/articles/20/27-DSA-30-18.pdf
Refereed DesignationRefereed