On the relation between turnpike properties for finite and infinite horizon optimal control problems

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Grüne, Lars ; Kellett, Christopher M. ; Weller, Steven R.:
On the relation between turnpike properties for finite and infinite horizon optimal control problems.
Bayreuth , 2016 . - 15 S.

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Abstract

We show that under appropriate regularity conditions a finite horizon optimal control problem exhibits the turnpike property if and only if its infinite horizon counterpart does. We prove the result for undiscounted and for discounted problems and also provide a version which incorporates quantitative information about the convergence rates.