On Existence of Overtaking Optimal Trajectories Over an Infinite Time Horizon
Published Online:1 Nov 1976https://doi.org/10.1287/moor.1.4.337
Abstract
The optimal control problem on an infinite horizon is considered in the case where there is no discounting. Under general convexity assumptions the existence of overtaking optimal and of weakly overtaking optimal trajectories is established. Convergence properties of optimal trajectories toward an optimal steady state are also proved.
