A new solution property in optimal control: the lens

DOI10.1016/j.automatica.2006.11.001zbMath1222.49030OpenAlexW2092122561WikidataQ59389739 ScholiaQ59389739MaRDI QIDQ880443

Peter M. Kort, Yuri A. Yegorov, Richard F. Hartl, Gustav Feichtinger

Publication date: 15 May 2007

Published in: Automatica (Search for Journal in Brave)

Full work available at URL: https://research.tilburguniversity.edu/en/publications/c80d5d10-2f54-4c43-a949-76e76b66d361

zbMATH Keywords

optimal controlmaximum principleeconomic dynamicsphase plane

Mathematics Subject Classification ID

Economic growth models (91B62) Optimality conditions for problems involving ordinary differential equations (49K15)

Cites Work

• A complete characterization of optimal growth paths in an aggregated model with a non-concave production function
• Multiple equilibria and thresholds due to relative investment costs
• Brand image and brand dilution in the fashion industry

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