Optimal solutions to the infinite horizon problems: Constructing the optimum as the limit of the solutions for the finite horizon problems

The limit of the solutions for the finite horizon problems is not always optimal for the infinite horizon problems. In this paper, we provide some special conditions that ensure its validity. It can be applied to constructing the optimal solutions for the undiscounted infinite horizon optimization p...

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Bibliographic Details
Published in:Nonlinear analysis 2009-12, Vol.71 (12), p.e2103-e2108
Main Authors: Cai, Dapeng, Nitta, Takashi Gyoshin
Format: Article
Language:English
Subjects:
Construction
Discounting
Horizon
Infinite horizon optimization
Mathematical analysis
Nonlinearity
Optimization
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Summary:The limit of the solutions for the finite horizon problems is not always optimal for the infinite horizon problems. In this paper, we provide some special conditions that ensure its validity. It can be applied to constructing the optimal solutions for the undiscounted infinite horizon optimization problems. We also demonstrate a simple example to explain this structure.
ISSN:0362-546X
1873-5215
DOI:10.1016/j.na.2009.03.066