Conditions implying the vanishing of the Hamiltonian at the infinite horizon in optimal control problems

Atle Seierstad ()
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Atle Seierstad: Dept. of Economics, University of Oslo, Postal: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway

No 22/2002, Memorandum from Oslo University, Department of Economics

Abstract: In an in_nite horizon optimal control problem, the Hamiltonian vanishes at the in_nite horizon, when the di_erential equation is autonomous. The integrand in the integral criterion may contain the time explicitly, but it has to satisfy certain integrability conditions. A generalization of Michels (1982) result is obtained.

Keywords: keyword infinite horizon; optimal control (search for similar items in EconPapers)
JEL-codes: C61 (search for similar items in EconPapers)
Pages: 5 pages
Date: 2003-06-27
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