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Line Integral in Optimal Control Problems

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F17%3A50013596" target="_blank" >RIV/62690094:18450/17:50013596 - isvavai.cz</a>

  • Result on the web

    <a href="http://fim2.uhk.cz/mme/conferenceproceedings/mme2017_conference_proceedings.pdf" target="_blank" >http://fim2.uhk.cz/mme/conferenceproceedings/mme2017_conference_proceedings.pdf</a>

  • DOI - Digital Object Identifier

Alternative languages

  • Result language

    angličtina

  • Original language name

    Line Integral in Optimal Control Problems

  • Original language description

    Many problems encountered in management and economics can be formulated as optimal control problems. To solve an optimal control problem necessary conditions known as Pontryagin&apos;s maximum principle are introduced first. These conditions are formulated as a system of ordinary differential equations - either as an initial problem or as a boundary value problem - and they give us a basic idea about possible optimal solution to the given problem. The aim of this paper is to describe a class of optimal control problems that can be solved without using Pontryagin&apos;s maximum principle and without using a system of ordinary differential equations. At first a class of optimal control problems that can be formulated as a line integral is introduced. Then general results for finite time horizon problems that are based on Green&apos;s theorem are presented. Finally a particular use of the described method for neoclassical growth model with linear utility function on finite time horizon is introduced. The received solution corresponds with the solution acquired by Pontryagin&apos;s maximum principle.

  • Czech name

  • Czech description

Classification

  • Type

    D - Article in proceedings

  • CEP classification

  • OECD FORD branch

    10102 - Applied mathematics

Result continuities

  • Project

  • Continuities

    S - Specificky vyzkum na vysokych skolach

Others

  • Publication year

    2017

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Article name in the collection

    Mathematical methods in economics (MME 2017) : conference proceedings

  • ISBN

    978-80-7435-678-0

  • ISSN

  • e-ISSN

    neuvedeno

  • Number of pages

    6

  • Pages from-to

    602-607

  • Publisher name

    Gaudeamus

  • Place of publication

    Hradec Králové

  • Event location

    University of Hradec Kralove

  • Event date

    Sep 13, 2017

  • Type of event by nationality

    WRD - Celosvětová akce

  • UT code for WoS article

    000427151400103