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Optimal control of a one-dimensional storage process

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Abstract

We consider the discounted and ergodic optimal control problems related to a one-dimensional storage process. The existence and uniqueness of the corresponding Bellman equation and the regularity of the optimal value is established. Using the Bellman equation an optimal feedback control is constructed. Finally we show that under this optimal control the origin is reachable.

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Authors and Affiliations

  1. Lefschetz Center for Dynamical Systems, Division of Applied Mathematics, Brown University, 02912, Providence, RI, USA

    Halil Mete Soner

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  1. Halil Mete Soner
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Additional information

Communicated by W. Fleming

This work was supported by the National Science Foundation under Grant No. MCS 8121940.

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Soner, H.M. Optimal control of a one-dimensional storage process. Appl Math Optim 13, 175–191 (1985). https://doi.org/10.1007/BF01442206

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  • DOI: https://doi.org/10.1007/BF01442206

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