Solution Existence Theorems for Finite Horizon Optimal Economic Growth Problems

23 Mar 2020 Huong Vu Thi

The solution existence of finite horizon optimal economic growth problems is studied by invoking Filippov's Existence Theorem for optimal control problems with state constraints of the Bolza type from the monograph of L. Cesari [Optimization Theory and Applications, Springer-Verlag, New York, 1983]. Our results are obtained not only for general problems but also for typical ones with the production function and the utility function being either the AK function or the Cobb--Douglas one... (read more)

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