Abstract
A class of scalar nonlinear difference equations with delay is considered. Sufficient conditions for the global asymptotic stability of a unique equilibrium are given. Applications in economics and other fields lead to consideration of associated optimal control problems. An optimal control problem of maximizing a consumption functional is stated. The existence of optimal solutions is established and their stability (the turnpike property) is proved.
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Anatoli Ivanov was supported in part by CONICYT (Chile), project MEC 801100006. S. Trofimchuk was partially supported by FONDECYT (Chile), project 1110309.
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Ivanov, A.F., Mammadov, M.A. & Trofimchuk, S.I. Global stabilization in nonlinear discrete systems with time-delay. J Glob Optim 56, 251–263 (2013). https://doi.org/10.1007/s10898-012-9862-y
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DOI: https://doi.org/10.1007/s10898-012-9862-y
Keywords
- Scalar difference equations with delay
- Global asymptotic stability
- Turnpike property in time-delay systems
- Optimal control