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'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'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'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'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