Optimal control in infinite horizon problems: a Sobolev spaces approach

Cuong Le van, Raouf Boucekkine () and Çağrı Sağlam

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: In this paper, we make use of the Sobolev space W1,1 (R+,Rn) toderive at once the Pontryagin conditions for the standard optimalgrowth model in continuous time, including a necessary and sufficienttransversality condition. An application to the Ramsey model is given.We use an order ideal argument to solve the problem inherent to thefact that L1 spaces have natural positive cones with no interior points.

Keywords: Optimal control; Sobolev spaces; Transversality conditions; Order ideal (search for similar items in EconPapers)
Date: 2007-09
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00101140
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Citations: View citations in EconPapers (6)

Published in Economic Theory, 2007, 32 (3), pp.497-509. ⟨10.1007/s00199-006-0118-2⟩

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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 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)
Working Paper: Optimal control in infinite horizon problems: A Sobolev space approach (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:halshs-00101140

DOI: 10.1007/s00199-006-0118-2

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