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Construction of nonlinear regulators in economic growth models

  • A. A. Krasovskii
  • A. M. Taras’ev
Article

Abstract

An infinite-horizon optimal control problem is considered which arises in an economic growthmodel with exhaustible energy resources. The Hamiltonian system in the Pontryagin maximum principle is analyzed and nonlinear regulators are constructed for the dynamical system under consideration. The presented results of synthetic economic growth trajectories generated by nonlinear regulators of the system are based on real-life data.

Keywords

nonlinear control systems optimal stabilization economic modeling 

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Copyright information

© Pleiades Publishing, Ltd. 2010

Authors and Affiliations

  1. 1.Institute of Mathematics and MechanicsUral Division of the Russian Academy of SciencesYekaterinburgRussia

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