research article
An Infinite-Horizon Maximum Principle with Bounds on the Adjoint Variable
We provide necessary optimality conditions for a general class of discounted infinite-horizon dynamic optimization problems. As part of the resulting maximum principle we obtain explicit bounds on the adjoint variable, stronger than the transversality conditions in Arrow–Kurz form.
Type
research article
Author(s)
Date Issued
2006
Published in
Volume
30
Issue
2
Start page
229
End page
241
Editorial or Peer reviewed
REVIEWED
Written at
OTHER
EPFL units
Available on Infoscience
July 16, 2013
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