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On the Relation Between Turnpike Properties for Finite and Infinite Horizon Optimal Control Problems

  • Lars Grüne
  • Christopher M. Kellett
  • Steven R. Weller
Article

Abstract

We show that, under appropriate regularity conditions, a finite horizon optimal control problem exhibits the turnpike property, if and only if its infinite horizon counterpart does. We prove the result for both undiscounted and discounted problems and also provide a version which incorporates quantitative information about the convergence rates.

Keywords

Finite horizon optimal control Infinite horizon optimal control Optimal equilibrium 

Mathematics Subject Classification

49N60 49J21 

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Copyright information

© Springer Science+Business Media New York 2017

Authors and Affiliations

  • Lars Grüne
    • 1
  • Christopher M. Kellett
    • 2
  • Steven R. Weller
    • 2
  1. 1.Mathematical InstituteUniversity of BayreuthBayreuthGermany
  2. 2.School of Electrical Engineering and ComputingUniversity of NewcastleCallaghanAustralia

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