- 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
- Full Text
- Reviewed
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