Optimality in Infinite-Horizon Variational Problems under Sign Conditions
J. Blot and
P. Cartigny
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J. Blot: Maison des Sciences Économiques
P. Cartigny: Université de la Méditerranée
Journal of Optimization Theory and Applications, 2000, vol. 106, issue 2, No 9, 419 pages
Abstract:
Abstract We consider infinite-horizon variational problems on several spaces of curves. We establish relations between these problems and the properties of their solutions. Notably, we exhibit situations where optimality in a given space of curves implies optimality in a bigger space of curves. We work with a domain of definition of the Lagrangian which has a very general form and we provide assumptions to ensure a satisfactory theory of the necessary conditions of optimality. We apply these results to actualized Lagrangians.
Keywords: Lagrangian systems; calculus of variations; optimal economic growth; infinite-horizon problems (search for similar items in EconPapers)
Date: 2000
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DOI: 10.1023/A:1004611816252
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