On the relation between turnpike properties for finite and infinite horizon optimal control problems

Title: On the relation between turnpike properties for finite and infinite horizon optimal control problems
Creator: Grüne, Lars; Kellett, Christopher M.; Weller, Steven R.
Relation: Journal of Optimization Theory and Applications Vol. 173, Issue 3, p. 727-745
Publisher Link: http://dx.doi.org/10.1007/s10957-017-1103-6
Publisher: Springer
Resource Type: journal article
Date: 2017
Description: We show that, under appropriate regularity conditions, a finite horizon optimal control problem exhibits the turnpike property, if and only if its infinite horizon counterpart does. We prove the result for both undiscounted and discounted problems and also provide a version which incorporates quantitative information about the convergence rates.
Subject: finite horizon optimal control; infinite horizon optimal control; optimal equilibrium
Identifier: http://hdl.handle.net/1959.13/1396753
Identifier: uon:34118
Identifier: ISSN:0022-3239
Rights: This is a post-peer-review, pre-copyedit version of an article published in the Journal of Optimization Theory and Applications. The final authenticated version is available online at: http://dx.doi.org/10.1007/s10957-017-1103-6.
Language: eng
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