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Control of single-sector economy over a finite time interval with allowance for employer consumption. (English. Russian original) Zbl 1155.49309

Autom. Remote Control 69, No. 9, 1576-1590 (2008); translation from Avtom. Telemekh. 2008, No. 9, 140-155 (2008).
Summary: The problem of optimal control of a single-sector economics over a finite time interval was studied for the class of the linear uniform production functions in terms of the criterion for maximum employer consumption under exponential growth of the manpower resources. Solution was obtained in the form of the “turnpike theorem”. Its properties were considered. The results obtained were specified for the case of the Cobb-Douglas production function.

MSC:

49N90 Applications of optimal control and differential games
93C95 Application models in control theory
91B60 Trade models
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