Asymptotic behaviour of optimal control systems with low discount rates

Asymptotic behaviour of optimal control systems with low discount rates

0.00 Avg rating0 Votes
Article ID: iaor19881143
Country: United States
Volume: 14
Issue: 22
Start Page Number: 309
End Page Number: 316
Publication Date: May 1989
Journal: Mathematics of Operations Research
Authors:
Abstract:

Let x be the path and u the control that maximizes the cumulative return discounted at rate δ. The purpose is to analyze the dependence of x and u on the rate δ. Under certain conditions, as δ tends to 0, the corresponding solution (x,u) tends to the solution for rate 0. The paper uses results from geometric control theory and the theory of semiflows.

Reviews

Required fields are marked *. Your email address will not be published.