Title: Two-term large-time asymptotic expansion of the value function for dissipative nonlinear optimal control problems.
Authors: Ašković, Veljko; Trélat, Emmanuel; Zidani, Hasnaa
Abstract: Considering a general nonlinear dissipative finite dimensional optimal control problem in fixed time horizon $ T $, we establish a two-term asymptotic expansion of the value function as $ T\rightarrow \infty $. The dominating term is $ T $ times the optimal value obtained from the optimal static problem within the classical turnpike theory. The second term, of order unity, is interpreted as the sum of two values associated with optimal stabilization problems related to the turnpike.
Subjects: TURNPIKE theory (Economics); ASYMPTOTIC expansions; TIME perspective; NONLINEAR functions; CONCORD
Publication: Mathematical Control & Related Fields, 2024, Vol 14, Issue 4, p1
ISSN: 2156-8472
Publication type: Academic Journal
DOI: 10.3934/mcrf.2024041

Two-term large-time asymptotic expansion of the value function for dissipative nonlinear optimal control problems.

Ašković, Veljko; Trélat, Emmanuel; Zidani, Hasnaa