Skip to main content
SpringerLink
Log in

Minimum time problems in Economics

  • Published:
Mathematical Methods of Operations Research Aims and scope Submit manuscript

Abstract.

We analyze the connection between the optimal solutions of minimum time and fixed final time optimal control problems. We discuss some controllability conditions which guarantee the equivalence of the two problems. In fact, under such conditions, not only does an optimal control maximize/minimize the objective functional, but it does it in minimum time too. We apply the results to some Economics models in order to obtain a deeper understanding of the optimal solutions of the related control problems.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Similar content being viewed by others

Author information

Authors and Affiliations

  1. Department of Pure and Applied Mathematics, Via Belzoni, 7, I-35131, Padova, Italy

    Luca Grosset & Bruno Viscolani

Authors
  1. Luca Grosset
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Bruno Viscolani
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Bruno Viscolani.

Additional information

Manuscript received: December 2003/Final version received: March 2004

Rights and permissions

Reprints and permissions

About this article

Cite this article

Grosset, L., Viscolani, B. Minimum time problems in Economics. Math Meth Oper Res 61, 23–32 (2005). https://doi.org/10.1007/s001860400390

Download citation

  • Issue Date:

  • DOI: https://doi.org/10.1007/s001860400390

Keywords

Search

Navigation