Scandinavian Working Papers in Economics

Memorandum,
Oslo University, Department of Economics

No 22/2002: Conditions implying the vanishing of the Hamiltonian at the infinite horizon in optimal control problems

Atle Seierstad ()
Additional contact information
Atle Seierstad: Dept. of Economics, University of Oslo, Postal: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway

Abstract: In an in_nite horizon optimal control problem, the Hamiltonian vanishes at the in_nite horizon, when the di_erential equation is autonomous. The integrand in the integral criterion may contain the time explicitly, but it has to satisfy certain integrability conditions. A generalization of Michels (1982) result is obtained.

Keywords: keyword infinite horizon; optimal control

JEL-codes: C61

5 pages, June 27, 2003

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