Computing Optimal Control on MATLAB — The SCOM Package and Economic Growth Models

2001 ◽  
pp. 61-70 ◽  
Author(s):  
B. D. Craven ◽  
S. M. N. Islam
Keyword(s):  
Economic Growth ◽  
Optimal Control ◽  
Growth Models ◽  
Economic Growth Models

ASYMPTOTICS OF VALUE FUNCTION IN MODELS OF ECONOMIC GROWTH

2018 ◽  
pp. 605-616
Author(s):  
Alexander Leonidovich Bagno ◽  
Alexander Mikhailovich Tarasyev
Keyword(s):  
Economic Growth ◽  
Optimal Control ◽  
Asymptotic Behavior ◽  
Value Function ◽  
Growth Models ◽  
Infinite Horizon ◽  
Minimax Solution ◽  
Growth Stability ◽  
Economic Growth Models ◽  
The Value Function

Asymptotic behavior of the value function is studied in an infinite horizon optimal control problem with an unlimited integrand index discounted in the objective functional. Optimal control problems of such type are related to analysis of trends of trajectories in models of economic growth. Stability properties of the value function are expressed in the infinitesimal form. Such representation implies that the value function coincides with the generalized minimax solution of the Hamilton–Jacobi equation. It is shown that that the boundary condition for the value function is substituted by the property of the sublinear asymptotic behavior. An example is given to illustrate construction of the value function as the generalized minimax solution in economic growth models.

scholarly journals Research and development in economic growth models and structural changes

2017 ◽  
Vol 11 (2) ◽  
pp. 55-72
Author(s):  
Marija Mosurovic-Ruzicic ◽  
Nikola Fabris ◽  
Djuro Kutlaca
Keyword(s):  
Economic Growth ◽  
Research And Development ◽  
Structural Changes ◽  
Growth Models ◽  
Economic Growth Models

scholarly journals Equilibria in Altruistic Economic Growth Models

2019 ◽  
Vol 10 (1) ◽  
pp. 1-18
Author(s):  
Łukasz Balbus ◽  
Anna Jaśkiewicz ◽  
Andrzej S. Nowak
Keyword(s):  
Economic Growth ◽  
Growth Models ◽  
Economic Growth Models
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