Abstract
The paper presents an algorithm that solvestwo-point boundary-value problems that arise in economic control models incontinuous time with an infinite time horizon and several state variables.The algorithm can determine optimal trajectories that converge to anisolated equilibrium point. It therefore provides a numerical solution toa large class of problems for which no solvers were yet available.
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Kunkel, P., von dem Hagen, O. Numerical Solution of Infinite-Horizon Optimal-Control Problems. Computational Economics 16, 189–205 (2000). https://doi.org/10.1023/A:1008772604955
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DOI: https://doi.org/10.1023/A:1008772604955