ON NECESSARY OPTIMALITY CONDITIONS FOR RAMSEY-TYPE PROBLEMS
We study an optimal control problem in infinite time, where the integrand does not depend explicitly on the state variable. A special case of such problem is the Ramsey optimal capital accumulation in centralized economy. To complete the optimality conditions of Pontryagin's maximum principle,...
Saved in:
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Ural Branch of the Russian Academy of Sciences and Ural Federal University named after the first President of Russia B.N.Yeltsin, Krasovskii Institute of Mathematics and Mechanics
2019-07-01
|
| Series: | Ural Mathematical Journal |
| Subjects: | |
| Online Access: | https://umjuran.ru/index.php/umj/article/view/154 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1849416214750691328 |
|---|---|
| author | Anton O. Belyakov |
| author_facet | Anton O. Belyakov |
| author_sort | Anton O. Belyakov |
| collection | DOAJ |
| description | We study an optimal control problem in infinite time, where the integrand does not depend explicitly on the state variable. A special case of such problem is the Ramsey optimal capital accumulation in centralized economy. To complete the optimality conditions of Pontryagin's maximum principle, so called transversality conditions of different types are used in the literature. Here, instead of a transversality condition, an additional maximum condition is considered. |
| format | Article |
| id | doaj-art-3ceb18c45fe2401ca48591af121674e1 |
| institution | Kabale University |
| issn | 2414-3952 |
| language | English |
| publishDate | 2019-07-01 |
| publisher | Ural Branch of the Russian Academy of Sciences and Ural Federal University named after the first President of Russia B.N.Yeltsin, Krasovskii Institute of Mathematics and Mechanics |
| record_format | Article |
| series | Ural Mathematical Journal |
| spelling | doaj-art-3ceb18c45fe2401ca48591af121674e12025-08-20T03:33:15ZengUral Branch of the Russian Academy of Sciences and Ural Federal University named after the first President of Russia B.N.Yeltsin, Krasovskii Institute of Mathematics and MechanicsUral Mathematical Journal2414-39522019-07-015110.15826/umj.2019.1.00370ON NECESSARY OPTIMALITY CONDITIONS FOR RAMSEY-TYPE PROBLEMSAnton O. Belyakov0Moscow School of Economics, Lomonosov Moscow State University, Moscow, 119992; National Research Nuclear University “MEPhI”, Moscow, 115409; Krasovskii Institute of Mathematics and Mechanics, Yekaterinburg, 620990We study an optimal control problem in infinite time, where the integrand does not depend explicitly on the state variable. A special case of such problem is the Ramsey optimal capital accumulation in centralized economy. To complete the optimality conditions of Pontryagin's maximum principle, so called transversality conditions of different types are used in the literature. Here, instead of a transversality condition, an additional maximum condition is considered.https://umjuran.ru/index.php/umj/article/view/154Pontryagin maximum principle, Transversality conditionOptimal controlRamsey problem |
| spellingShingle | Anton O. Belyakov ON NECESSARY OPTIMALITY CONDITIONS FOR RAMSEY-TYPE PROBLEMS Ural Mathematical Journal Pontryagin maximum principle, Transversality condition Optimal control Ramsey problem |
| title | ON NECESSARY OPTIMALITY CONDITIONS FOR RAMSEY-TYPE PROBLEMS |
| title_full | ON NECESSARY OPTIMALITY CONDITIONS FOR RAMSEY-TYPE PROBLEMS |
| title_fullStr | ON NECESSARY OPTIMALITY CONDITIONS FOR RAMSEY-TYPE PROBLEMS |
| title_full_unstemmed | ON NECESSARY OPTIMALITY CONDITIONS FOR RAMSEY-TYPE PROBLEMS |
| title_short | ON NECESSARY OPTIMALITY CONDITIONS FOR RAMSEY-TYPE PROBLEMS |
| title_sort | on necessary optimality conditions for ramsey type problems |
| topic | Pontryagin maximum principle, Transversality condition Optimal control Ramsey problem |
| url | https://umjuran.ru/index.php/umj/article/view/154 |
| work_keys_str_mv | AT antonobelyakov onnecessaryoptimalityconditionsforramseytypeproblems |