Please use this identifier to cite or link to this item:
http://hdl.handle.net/10525/3427
Title:
Mangasarian-type Sufficient Optimality Conditions for Age-Structured Control Problems with State Constraints. An Application to Investment in Vintage Capital
Age-structured optimal control with state constraints sufficient conditions for optimality vintage capital goods shooting method
Issue Date:
2013
Publisher:
Institute of Mathematics and Informatics at the Bulgarian Academy of Sciences
Citation:
Serdica Mathematical Journal, Vol. 39, No 2, (2013), 155p-188p
Abstract:
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.
