Strict Dissipativity Implies Turnpike Behavior for Time-Varying Discrete Time Optimal Control Problems

Lars Grüne (), Simon Pirkelmann () and Marleen Stieler ()
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Lars Grüne: University of Bayreuth
Simon Pirkelmann: University of Bayreuth
Marleen Stieler: University of Bayreuth

A chapter in Control Systems and Mathematical Methods in Economics, 2018, pp 195-218 from Springer

Abstract: Abstract We consider the turnpike property for infinite horizon undiscounted optimal control problems in discrete time and with time-varying data. We show that, under suitable conditions, a time-varying strict dissipativity notion implies the turnpike property and a continuity property of the optimal value function. We also discuss the relation of strict dissipativity to necessary optimality conditions and illustrate our results by an example.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:lnechp:978-3-319-75169-6_10

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DOI: 10.1007/978-3-319-75169-6_10

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