A New Proof Of The Maximum Principle

Ngo Long and Koji Shimomura

CIRANO Working Papers from CIRANO

Abstract: We offer a new proof of the maximum principle for optimal control problems with fixed endpoint. We allow for inequality constraints involving state variables and control variables. Our proof relies on an application of the envelope theorem. Nous donnons une preuve nouvelle du principe de maximum pour les problèmes de contrôle optimal aux points terminaux fixés. Le cas où il y a des contraintes en forme d inégalité est permis. Notre preuve utilise le théorème de l'enveloppe.

Keywords: Maximum Principle; Envelope Theorem; Principe de Maximum; Théorème de l'Enveloppe (search for similar items in EconPapers)
JEL-codes: C61 (search for similar items in EconPapers)
Date: 2002-01-01
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Journal Article: A new proof of the maximum principle (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:cir:cirwor:2002s-04

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