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Strict Dissipativity Implies Turnpike Behavior for Time-Varying Discrete Time Optimal Control Problems

In: Control Systems and Mathematical Methods in Economics

Author

Listed:
  • Lars Grüne

    (University of Bayreuth)

  • Simon Pirkelmann

    (University of Bayreuth)

  • Marleen Stieler

    (University of Bayreuth)

Abstract

We consider the turnpike property for infinite horizon undiscounted optimal control problems in discrete time and with time-varying data. We show that, under suitable conditions, a time-varying strict dissipativity notion implies the turnpike property and a continuity property of the optimal value function. We also discuss the relation of strict dissipativity to necessary optimality conditions and illustrate our results by an example.

Suggested Citation

  • Lars Grüne & Simon Pirkelmann & Marleen Stieler, 2018. "Strict Dissipativity Implies Turnpike Behavior for Time-Varying Discrete Time Optimal Control Problems," Lecture Notes in Economics and Mathematical Systems, in: Gustav Feichtinger & Raimund M. Kovacevic & Gernot Tragler (ed.), Control Systems and Mathematical Methods in Economics, pages 195-218, Springer.
    • Handle: RePEc:spr:lnechp:978-3-319-75169-6_10
    DOI: 10.1007/978-3-319-75169-6_10
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