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Introduction

Chapter
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Part of the SpringerBriefs in Optimization book series (BRIEFSOPTI)

Abstract

The study of the existence and the structure of solutions of optimal control problems defined on infinite intervals and on sufficiently large intervals has recently been a rapidly growing area of research. See, for example, [3, 4, 7–11, 13, 14, 16, 18–22, 25, 27, 32–34, 36, 44, 45, 52, 55] and the references mentioned therein. These problems arise in engineering [1, 23, 57], in models of economic growth [2, 5, 12, 13, 17, 22, 26, 31, 35, 38, 39, 40, 45], in infinite discrete models of solid-state physics related to dislocations in one-dimensional crystals [6, 41] and in the theory of thermodynamical equilibrium for materials [15, 24, 28–30]. In this chapter we discuss the structure of solutions of a discrete-time optimal control system describing a general model of economic dynamics.

Keywords

Infinite Interval Optimal Control Problem Economic Dynamics Turnpike Property (TP) Turnpike Phenomenon 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Copyright information

© The Author 2014

Authors and Affiliations

  1. 1.Department of MathematicsTechnion- Israel Institute of TechnologyHaifaIsrael

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