Age-structured optimal control with state constraints sufficient conditions for optimality vintage capital goods shooting method
Institute of Mathematics and Informatics at the Bulgarian Academy of Sciences
Serdica Mathematical Journal, Vol. 39, No 2, (2013), 155p-188p
We consider a class of age-structured control problems with state constraints, nonlocal dynamics and boundary conditions, defined on
finite time intervals. For these problems we suggest Mangasarian-type sufficient conditions for the optimality of the control. As an application we consider a model with a state constraint of optimal investment in vintage capital goods. To solve this model we suggest a numerical method and we prove that this method converges to an optimal solution. 2010 Mathematics Subject Classification: 49K20, 49K21, 49N90, 49M30.