文章基本信息

标题：Analysis of Economic Growth Models via Value Function Design ⁎
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作者：Alexander L. Bagno ; Alexander M. Tarasyev
期刊名称：IFAC PapersOnLine
印刷版ISSN：2405-8963
出版年度：2018
卷号：51
期号：32
页码：624-629
DOI：10.1016/j.ifacol.2018.11.494
语种：English
出版社：Elsevier
摘要：AbstractProperties of the value function are examined in an infinite horizon optimal control problem with an unlimited integrand index appearing in the quality functional with a discount factor. Optimal control problems of such type describe solutions in models of economic growth. Necessary and sufficient conditions are derived to ensure that the value function satisfies the infinitesimal stability properties. It is proved that value function coincides with the minimax solution of the Hamilton Jacobi equation. Description of the growth asymptotic behavior for the value function is provided for the logarithmic, power and exponential quality functionals. An example is given to illustrate construction of the value function in economic growth models.
关键词：KeywordsOptimal controlvalue functionstability propertiesHamilton-Jacobi equations