Abstract
The conditions under which an optimal control problem commonly employed in economics gives rise to a constant optimal control are characterized. The conditions are stated in terms of the properties of the functional form of the integrand of the objective function and of the state equation. These conditions can be checked prior to computation of the optimal control and thereby can simplify its calculation.
Original language | English |
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Pages (from-to) | 315-324 |
Number of pages | 10 |
Journal | Journal of Optimization Theory and Applications |
Volume | 48 |
Issue number | 2 |
DOIs | |
State | Published - Feb 1986 |
Externally published | Yes |
Keywords
- Optimal control problems
- analytic functions
- calculus of variations
- constant optimal controls
- current value Hamiltonian
- differential games