Equilibria and stable paths in infinite horizon nonlinear control problems: the linear-quadratic approximation

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Pavol Brunovský Michal Zákopčan


Nonlinear discrete time innite horizon problems with discount arediscussed. It is shown that if the limit problem without discount admits a nondegenerate steady state "extremal" solution and certain additional hypotheses are satised then for suciently small discounts the steady state solution exists, for initial conditions suciently close to it the problem has a solution of the stable path type and that it can be approximated by the linear-quadratic truncation of the problem.

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Brunovský, P., & Zákopčan, M. (2015). Equilibria and stable paths in infinite horizon nonlinear control problems: the linear-quadratic approximation. Acta Mathematica Universitatis Comenianae, 84(1), 79-96. Retrieved from http://www.iam.fmph.uniba.sk/amuc/ojs/index.php/amuc/article/view/62/128


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