Existence of optimal solutions for control and variational problems with recursive objectives
type: Item
instance of: scholarly article
title: Existence of optimal solutions for control and variational problems with recursive objectives
zbMATH Open document ID: 0786.49002
author: Erik J. Balder
published in: Journal of Mathematical Analysis and Applications
publication date: 1994-05-01T00:00:00Z
review text: This paper is devoted to the study of the existence of optimal controls in some problems related to economic growth. The dynamic mechanism is described by nonlinear ordinary differential and Volterra integral equations on finite and infinite time intervals. The Lagrange-type performance index contains the discount factor. Some results by \textit{D. A. Carlson} [J. Optimization Theory Appl. 66, No. 2, 311-336 (1990; Zbl 0711.49007)] and by \textit{R. A. Becker}, \textit{J. H. Boyd} and \textit{B. Y. Sung} [J. Econ. Theory 47, No. 1, 76-100 (1989; Zbl 0679.90014)] are generalized using the well-known Cesari's technique and earlier results by the author. Some interesting examples and counterexamples to earlier results are presented.
reviewed by: Z.Wyderka
Mathematics Subject Classification ID: 49J15
Mathematics Subject Classification ID: 49J22
Mathematics Subject Classification ID: 49J45
zbMATH DE Number: 484026
zbMATH Keywords: lower closure
zbMATH Keywords: compactness
zbMATH Keywords: orientor fields
zbMATH Keywords: infinite-horizon
zbMATH Keywords: existence of optimal controls
zbMATH Keywords: economic growth
zbMATH Keywords: nonlinear ordinary differential and Volterra integral equations
MaRDI profile type: Publication
full work available at URL: jmaa.1993.1316
OpenAlex ID: W1994020858
DOI: 10.1006/JMAA.1993.1316
description: scientific article; zbMATH DE number 484026