Zeno points in optimal control models with endogenous regime switching

Andrea Seidl

Journal of Economic Dynamics and Control, 2019, vol. 100, issue C, 353-368

Abstract: The present paper considers a type of multi-stage problem where a decision maker can optimally decide to switch between two alternating stages (regimes). In such a problem, either one of the two stages dominates in the long run or it is optimal to infinitely switch between stages. A point where such a phenomenon occurs with optimal switching time zero is called Zeno point.

Keywords: Multi-stage modeling; Zeno point; Endogenous regime switching (search for similar items in EconPapers)
JEL-codes: C61 O33 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:dyncon:v:100:y:2019:i:c:p:353-368

DOI: 10.1016/j.jedc.2018.09.010

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