A current-value Hamiltonian approach to discrete-time optimal control problems in economic growth theory. Issue 1 (2nd January 2022)

• Record Type: Journal Article
• Authors: Naz, R.
• Is Part Of: Journal of difference equations and applications. Volume 28:Issue 1(2022)
• Page Start: 109
• Page End: 119
• Publication Date: 2022-01-02
• Subjects: Current-value Hamiltonian systems -- Pontryagin-type maximum principle -- discrete-time optimal control problems; 37K06 -- 37K10 -- 39Axx D -- 37N40 -- 91B55; Difference equations -- Periodicals; 515.625
• DOI: 10.1080/10236198.2021.2023137
• Languages: English
• ISSNs: 1023-6198

Abstract

Abstract : The Pontryagin-type maximum principle (PMP) is extended to the present and current-value Hamiltonian systems of nonlinear ordinary difference equations (NODFEs) for the uniform time step h . A new method termed as a discrete-time current-value Hamiltonian method is established for the construction of first integrals for current-value Hamiltonian (CVH) systems of NODFEs arising in Economic growth theory.