Stability of a Turnpike Phenomenon for a Discrete-Time Optimal Control System

A. J. Zaslavski ()
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A. J. Zaslavski: Technion

Journal of Optimization Theory and Applications, 2010, vol. 145, issue 3, No 11, 597-612

Abstract: Abstract We study the structure of solutions of a discrete-time control system with a compact metric space of states X which arises in economic dynamics. This control system is described by a nonempty closed set Ω⊂X×X which determines a class of admissible trajectories (programs) and by a bounded upper semicontinuous objective function v:Ω→R 1 which determines an optimality criterion. We are interested in turnpike properties of the approximate solutions which are independent of the length of the interval, for all sufficiently large intervals. In the present paper, we show that these turnpike properties are stable under perturbations of the objective function v.

Keywords: Compact metric space; Good function; Turnpike property (search for similar items in EconPapers)
Date: 2010
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DOI: 10.1007/s10957-010-9677-2

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