Abstract
We study existence and the turnpike property of solutions of discrete-time control systems with discounting and with a compact metric space of states. To have the turnpike property means that the approximate solutions of the problems are determined mainly by the objective functions, and are essentially independent of the choice of intervals and endpoint conditions, except in regions close to the endpoints. We show that this turnpike property is stable under small perturbations of the objective functions.
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References
Zaslavski AJ (2015) Existence and a turnpike property of solutions for a class of nonautonomous optimal control systems with discounting. Journal of Nonlinear and Convex Analysis: 16, 1155–1183.
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Zaslavski, A.J. (2022). Nonautonomous Problems with Discounting. In: Optimal Control Problems Arising in Mathematical Economics. Monographs in Mathematical Economics, vol 5. Springer, Singapore. https://doi.org/10.1007/978-981-16-9298-7_4
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DOI: https://doi.org/10.1007/978-981-16-9298-7_4
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Publisher Name: Springer, Singapore
Print ISBN: 978-981-16-9297-0
Online ISBN: 978-981-16-9298-7
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