equation of motion of the differential states. Therefore, we formulate an exemplary optimal control problem with one stock and … optimization problems. In particular, we present two possibilities to reformulate the delayed optimal control problem into an … instantaneous optimal control problem and show how these can be solved numerically with a state-of-the-art direct method by applying …

issues or, technically speaking, to a combined optimal stopping and optimal control problem (COSOCP). [18] solved this … or never which means that COSOCP reduces to a trivial or to a pure optimal control problem. In contrast to this the … optimal stopping and optimal control problem (COSOCP). Sum- marising, the task of finding the pensioner’s optimal consumption …

introduce a generic optimal control problem with one pollutant that accumulates with a delay and show that the system dynamics … parameters and initial values used for the numerical optimization. Thus, we derive an optimal control problem with delayed stock …

: Hellwig (2007 b) also shows that this assumption guarantees uniqueness of the solution to the optimal control problem. 7 8 …