American Institute of Mathematical Sciences

Advanced
August  2005, 5(3): 861-880. doi: 10.3934/dcdsb.2005.5.861

The turnpike property of discrete-time control problems arising in economic dynamics

Alexander J. Zaslavski 1,

1. 

Department of Mathematics, Technion-Israel Institute of Technology, Haifa, 32000, Israel

Received  January 2004 Revised  April 2004 Published  May 2005

In this work we study the structure of approximate solutions of a nonautonomous discrete-time control system in a compact metric space $X$ which is determined by a sequence of continuous functions $v_i: X \times X \to R^1$, $i=0,\pm 1,\pm 2,$.... The main result in this paper deals with the turnpike property of optimal control problems. To have this property means that the approximate solutions of the problems are determined mainly by the the sequence $\{v_i\}_{i=-\infty}^{\infty}$, and are essentially independent of the choice of interval and endpoint conditions, except in regions close to the endpoints.
Keywords: good sequence, complete metric space, Compact metric space, generic property, turnpike property..
Mathematics Subject Classification: Primary: 49J99, 54E5.
Citation: Alexander J. Zaslavski. The turnpike property of discrete-time control problems arising in economic dynamics. Discrete & Continuous Dynamical Systems - B, 2005, 5 (3) : 861-880. doi: 10.3934/dcdsb.2005.5.861
[1]

Russell Ricks. The unique measure of maximal entropy for a compact rank one locally CAT(0) space. Discrete & Continuous Dynamical Systems - A, 2021, 41 (2) : 507-523. doi: 10.3934/dcds.2020266
[2]

Giulia Cavagnari, Antonio Marigonda. Attainability property for a probabilistic target in wasserstein spaces. Discrete & Continuous Dynamical Systems - A, 2021, 41 (2) : 777-812. doi: 10.3934/dcds.2020300
[3]

Giulia Luise, Giuseppe Savaré. Contraction and regularizing properties of heat flows in metric measure spaces. Discrete & Continuous Dynamical Systems - S, 2021, 14 (1) : 273-297. doi: 10.3934/dcdss.2020327
[4]

Mostafa Mbekhta. Representation and approximation of the polar factor of an operator on a Hilbert space. Discrete & Continuous Dynamical Systems - S, 2020  doi: 10.3934/dcdss.2020463
[5]

Hirokazu Ninomiya. Entire solutions of the Allen–Cahn–Nagumo equation in a multi-dimensional space. Discrete & Continuous Dynamical Systems - A, 2021, 41 (1) : 395-412. doi: 10.3934/dcds.2020364
[6]

Wei Ouyang, Li Li. Hölder strong metric subregularity and its applications to convergence analysis of inexact Newton methods. Journal of Industrial & Management Optimization, 2021, 17 (1) : 169-184. doi: 10.3934/jimo.2019105
[7]

Abdollah Borhanifar, Maria Alessandra Ragusa, Sohrab Valizadeh. High-order numerical method for two-dimensional Riesz space fractional advection-dispersion equation. Discrete & Continuous Dynamical Systems - B, 2020  doi: 10.3934/dcdsb.2020355
[8]

Nguyen Thi Kim Son, Nguyen Phuong Dong, Le Hoang Son, Alireza Khastan, Hoang Viet Long. Complete controllability for a class of fractional evolution equations with uncertainty. Evolution Equations & Control Theory, 2020  doi: 10.3934/eect.2020104
[9]

Thierry Horsin, Mohamed Ali Jendoubi. On the convergence to equilibria of a sequence defined by an implicit scheme. Discrete & Continuous Dynamical Systems - S, 2020  doi: 10.3934/dcdss.2020465
[10]

Yuanfen Xiao. Mean Li-Yorke chaotic set along polynomial sequence with full Hausdorff dimension for $ \beta $-transformation. Discrete & Continuous Dynamical Systems - A, 2021, 41 (2) : 525-536. doi: 10.3934/dcds.2020267
[11]

Lei Liu, Li Wu. Multiplicity of closed characteristics on $ P $-symmetric compact convex hypersurfaces in $ \mathbb{R}^{2n} $. Discrete & Continuous Dynamical Systems - A, 2020  doi: 10.3934/dcds.2020378

2019 Impact Factor: 1.27

Tools

Metrics

  • PDF downloads (31)
  • HTML views (0)
  • Cited by (8)

Other articles
by authors

[Back to Top]

Copyright © 2020 American Institute of Mathematical Sciences