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 both undiscounted and discounted problems and also provide a version which incorporates quantitative information about the convergence rates.
History
Journal title
Journal of Optimization Theory and Applications
Volume
173
Issue
3
Pagination
727-745
Publisher
Springer
Language
en, English
College/Research Centre
Faculty of Engineering and Built Environment
School
School of Electrical Engineering and Computer Science
Rights statement
This is a post-peer-review, pre-copyedit version of an article published in the Journal of Optimization Theory and Applications. The final authenticated version is available online at: http://dx.doi.org/10.1007/s10957-017-1103-6.