Monotone optimal trajectories

Niko Jaakkola and Florian Wagener
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Niko Jaakkola: University of Bologna
Florian Wagener: University of Amsterdam

No 25-061/II, Tinbergen Institute Discussion Papers from Tinbergen Institute

Abstract: We give weak conditions for a continuous time optimal control problem with one-dimensional state space to have monotone optimal trajectories. These conditions include a concavity condition on the Lagrange function. If that condition is changed to strict concavity, then all optimal trajectories are monotone.

Keywords: infinite horizon optimal control; monotone trajectories (search for similar items in EconPapers)
JEL-codes: C02 C61 (search for similar items in EconPapers)
Date: 2025-10-13
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Persistent link: https://EconPapers.repec.org/RePEc:tin:wpaper:20250061

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