Verification theorem and construction of epsilon-optimal controls for control of abstract evolution equations

We study several aspects of the dynamic programming approach to optimal control of abstract evolution equations, including a class of semilinear partial differential equations. We introduce and prove a verification theorem which provides a sufficient condition for optimality. Moreover we prove sub- and superoptimality principles of dynamic programming and give an explicit construction of $\epsilon$-optimal controls.

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Year of publication:	2007-05
Authors:	Fabbri, Giorgio ; Gozzi, Fausto ; Swiech, Andrzej
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	optimal control of PDE \| verification theorem \| dynamic programming \| $\epsilon$-optimal controls \| Hamilton-Jacobi-Bellman equations

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005835832