TY - JOUR
T1 - On the Relation Between Turnpike Properties for Finite and Infinite Horizon Optimal Control Problems
AU - Grüne, Lars
AU - Kellett, Christopher M.
AU - Weller, Steven R.
N1 - Publisher Copyright:
© 2017, Springer Science+Business Media New York.
PY - 2017/6/1
Y1 - 2017/6/1
N2 - We show that, under appropriate regularity conditions, a finite horizon optimal control problem exhibits the turnpike property, if and only if its infinite horizon counterpart does. We prove the result for both undiscounted and discounted problems and also provide a version which incorporates quantitative information about the convergence rates.
AB - We show that, under appropriate regularity conditions, a finite horizon optimal control problem exhibits the turnpike property, if and only if its infinite horizon counterpart does. We prove the result for both undiscounted and discounted problems and also provide a version which incorporates quantitative information about the convergence rates.
KW - Finite horizon optimal control
KW - Infinite horizon optimal control
KW - Optimal equilibrium
UR - http://www.scopus.com/inward/record.url?scp=85016026279&partnerID=8YFLogxK
U2 - 10.1007/s10957-017-1103-6
DO - 10.1007/s10957-017-1103-6
M3 - Article
SN - 0022-3239
VL - 173
SP - 727
EP - 745
JO - Journal of Optimization Theory and Applications
JF - Journal of Optimization Theory and Applications
IS - 3
ER -