Weber, Thomas A.2013-07-162013-07-162013-07-16200610.1016/j.jedc.2004.11.006https://infoscience.epfl.ch/handle/20.500.14299/93374We 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.Dynamic optimizationInfinite-horizon optimal controlNecessary optimality conditionsAn Infinite-Horizon Maximum Principle with Bounds on the Adjoint Variabletext::journal::journal article::research article