Titlebar

Export bibliographic data
Literature by the same author
plus on the publication server
plus at Google Scholar

 

Turnpike Properties in Optimal Control : An Overview of Discrete-Time and Continuous-Time Results

Title data

Faulwasser, Timm ; Grüne, Lars:
Turnpike Properties in Optimal Control : An Overview of Discrete-Time and Continuous-Time Results.
Bayreuth , 2020 . - 31 p.

Official URL: Volltext

Related URLs

Abstract in another language

The turnpike property refers to the phenomenon that in many optimal control problems, the solutions for different initial conditions and varying horizons approach a neighborhood of a specific steady state, then stay in this neighborhood for the major part of the time horizon, until they may finally depart. While early observations of the phenomenon can be traced back to works of Ramsey and von Neumann on problems in economics in 1928 and 1938, the turnpike property received continuous interest in economics since the 1960s and recent interest in systems and control. The present chapter provides an introductory overview of discrete-time and continuous-time results in finite and infinite-dimensions. We comment on dissipativity-based approaches and infinite-horizon results, which enable the exploitation of turnpike properties for the numerical solution of problems with long and infinite horizons. After drawing upon numerical examples, the chapter concludes with an outlook on time-varying, discounted, and open problems.

Further data

Item Type: Preprint, postprint
Keywords: Turnpike properties; Optimal control; Dissipativity; Numerical solution
Institutions of the University: Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics > Chair Mathematics V (Applied Mathematics)
Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics > Chair Mathematics V (Applied Mathematics) > Chair Mathematics V (Applied Mathematics) - Univ.-Prof. Dr. Lars Grüne
Profile Fields > Advanced Fields > Nonlinear Dynamics
Research Institutions > Research Centres > Forschungszentrum für Modellbildung und Simulation (MODUS)
Faculties
Faculties > Faculty of Mathematics, Physics und Computer Science
Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics
Profile Fields
Profile Fields > Advanced Fields
Research Institutions
Research Institutions > Research Centres
Result of work at the UBT: Yes
DDC Subjects: 500 Science > 510 Mathematics
600 Technology, medicine, applied sciences > 620 Engineering
Date Deposited: 01 Dec 2020 09:12
Last Modified: 01 Dec 2020 09:12
URI: https://eref.uni-bayreuth.de/id/eprint/60619