Optimal control in infinite horizon problems: A Sobolev space approach

Cuong Le van, Raouf Boucekkine () and Çağrı Sağlam

No 2004089, LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Abstract: In this paper, we make use of the Sobolev space W exp.1,1 (R+, R exp.n) to derive at once the Pontryagin conditions for the standard optimal growth model in continuous time, including a necessary and sufficient transversality condition. An application to the Ramsey model is given. We use an order ideal argument to solve the problem inherent to the fact that L exp.1 spaces have natural positive cones with no interior points.

Keywords: optimal control; Sobolev spaces; transversality conditions; order ideal (search for similar items in EconPapers)
JEL-codes: C61 (search for similar items in EconPapers)
Date: 2004-12
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Optimal Control in Infinite Horizon Problems: A Sobolev Space Approach (2007)
Working Paper: Optimal control in infinite horizon problems: A Sobolev space approach (2007)
Working Paper: Optimal control in infinite horizon problems: a Sobolev spaces approach (2007)
Working Paper: Optimal control in infinite horizon problems: a Sobolev spaces approach (2007)
Working Paper: Optimal control in infinite horizon problems: a Sobolev space approach (2005)
Working Paper: Optimal control in infinite horizon problems: a Sobolev space approach (2005)
Working Paper: Optimal control in infinite horizon problems: a Sobolev space approach (2005)
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