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Infinite Horizon Optimal Control: Deterministic and Stochastic Systems

Infinite Horizon Optimal Control: Deterministic and Stochastic Systems

Paperback

EconomicsGeneral Mathematics

ISBN10: 3642767575
ISBN13: 9783642767579
Publisher: Springer Pg
Published: Dec 8 2011
Pages: 332
Weight: 1.29
Height: 0.79 Width: 6.81 Depth: 9.51
Language: English
This work presents a systematic account of the development of infinite horizon optimal control. It is demonstrated that the usual concept of optimality is insufficient as it assumes, a priori, that the objective functional is finite. To avoid this difficulty a hierarchy of optimality concepts have been developed, which serves as a background for the treatment of the usual questions encountered in optimization. Namely, the book investigates necessary conditions for optimality, sufficient conditions for optimality, and the existence of optimal solutions.

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Economics