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Conditions implying the vanishing of the Hamiltonian at the infinite horizon in optimal control problems

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Abstract

In an in_nite horizon optimal control problem, the Hamiltonian vanishes at the in_nite horizon, when the di_erential equation is autonomous. The integrand in the integral criterion may contain the time explicitly, but it has to satisfy certain integrability conditions. A generalization of Michels (1982) result is obtained.

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  • Seierstad, Atle, 2003. "Conditions implying the vanishing of the Hamiltonian at the infinite horizon in optimal control problems," Memorandum 22/2002, Oslo University, Department of Economics.
    • Handle: RePEc:hhs:osloec:2002_022
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    File URL: http://www.sv.uio.no/econ/english/research/unpublished-works/working-papers/pdf-files/2002/Memo-22-2002.pdf
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    1. Michel, Philippe, 1982. "On the Transversality Condition in Infinite Horizon Optimal Problems," Econometrica, Econometric Society, vol. 50(4), pages 975-985, July.
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    More about this item

    Keywords

    keyword infinite horizon; optimal control;

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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