A Class of Reducible Dynamic Control Problems

Raul Fabella

No 198505, UP School of Economics Discussion Papers from University of the Philippines School of Economics

Abstract: We show that analysis of control problems with a "reduction set," i.e., a subset of the control vector that satisfies certain strong conditions, avoids the "curse of dimensionality." The problem boils down to solving n static equations in n unknowns (the control plus the state variables) and leapfrogs the 2-point boundary value problem that besets more general control problems.

Date: 1985-04
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Published as UPSE Discussion Paper No. 1985-05, April 1985

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