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Y. Kiselev, M. Orlov (2012)
Optimal resource distribution program in a two-sector economic model with a Cobb-Douglas production function with distinct amortization factorsDifferential Equations, 48
(1961)
Matematicheskaya teoriya optimal’nykh protsessov (Mathematical Theory of Optimal Processes), Moscow: Gosudarstv
(2014)
Study of the modified “ROST” model with singular modes, Prikl
(2003)
Sufficient optimality conditions in terms of constructions of the Pontryagin maximum principle
(2016)
Singular modes in model of two-sector economy with integral utility function, Vestn
Y. Kiselev, M. Orlov, S. Orlov (2015)
Boundary value problem of Pontryagin’s maximum principle in a two-sector economy model with an integral utility functionComputational Mathematics and Mathematical Physics, 55
Yu.N. Kiselev (2003)
Sufficient optimality conditions in terms of constructions of the Pontryagin maximum principle, in Matematicheskie modeli v ekonomike i biologii
L.S. Pontryagin, V.G. Boltyanskii, R.V. Gamkrelidze, E.F. Mishchenko (1961)
Matematicheskaya teoriya optimal’nykh protsessov
Yu.N. Kiselev, S.M. Orlov (2014)
Study of the modified “ROST” model with singular modesPrikl. Mat. Inform., 45
An infinite-horizon two-sector economy model with a Cobb–Douglas production function is studied for different depreciation rates, the utility function being an integral functional with discounting and a logarithmic integrand. The application of the Pontryagin maximum principle leads to a boundary value problem with special conditions at infinity. The presence of singular modes in the optimal solution complicates the search for a solution to the boundary value problem of the maximum principle. To construct the solution to the boundary value problem, the singular modes are written in an analytical form; in addition, a special version of the sweep algorithm in continuous form is proposed. The optimality of the extremal solution is proved.
Differential Equations – Springer Journals
Published: Mar 15, 2017
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