| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5100023 | Journal of Economic Dynamics and Control | 2006 | 13 Pages |
Abstract
We provide necessary optimality conditions for a general class of discounted infinite-horizon dynamic optimization problems. As part of the resulting maximum principle we obtain explicit bounds on the adjoint variable, stronger than the transversality conditions in Arrow-Kurz form.
Related Topics
Physical Sciences and Engineering
Mathematics
Control and Optimization
Authors
Thomas A. Weber,