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JOURNALS // Ural Mathematical Journal // Archive

Ural Math. J., 2019 Volume 5, Issue 1, Pages 24–30 (Mi umj71)

This article is cited in 1 paper

On necessary optimality conditions for Ramsey-type problems

Anton O. Belyakovabc

a Moscow School of Economics, Lomonosov Moscow State University, Leninskiye Gory, Moscow, 119992, Russia
b National Research Nuclear University “MEPhI”, 31 Kashirskoe shosse, Moscow, 115409, Russia
c Krasovskii Institute of Mathematics and Mechanics, Ural Branch of the Russian Academy of Sciences, 16 S. Kovalevskaya Str., Ekaterinburg, 620990, Russia

Abstract: We study an optimal control problem in infinite time, where the integrand does not depend explicitly on the state variable. A special case of such problem is the Ramsey optimal capital accumulation in centralized economy. To complete the optimality conditions of Pontryagin’s maximum principle, so called transversality conditions of different types are used in the literature. Here, instead of a transversality condition, an additional maximum condition is considered.

Keywords: Pontryagin maximum principle, transversality condition, optimal control, Ramsey problem.

Language: English

DOI: 10.15826/umj.2019.1.003



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