On a resource allocation model with infinite horizon

On a resource allocation model with infinite horizon

In this paper we treat a resource allocation model defined on an infinite interval. We show that the solution of the corresponding problem with finite horizon cannot be extended to a solution of the infinite horizon problem, since the resource allocation problem in the unmodified setting does not have a solution on an unbounded interval. To change this situation we bring an additional state con...

Infinite horizon allocation with consumption-dependent utility

We consider an economy in which there is an infinite stream of pies, each of size one, one in every period. For each agent, the per-period utility function, which is defined on that period’s consumption, is determined by the previous period’s consumption. We describe specifications of this model for which no symmetric, efficient, and monotonic way to allocate pies exists.

The Infinite Horizon Buffer Stock Model

Convergence of trajectories in infinite horizon optimization

In this paper, we investigate the convergence of a sequence of minimizing trajectories in infinite horizon optimization problems. The convergence is considered in the sense of ideals and their particular case called the statistical convergence. The optimality is defined as a total cost over the infinite horizon.

Infinite-Horizon Model Predictive Control for Periodic Tasks with Contacts

We present a method that combines offline trajectory optimization and online Model Predictive Control (MPC), generating robust controllers for complex periodic behavior in domains with unilateral constraints (e.g., contact with the environment). MPC offers robust and adaptive control even in high-dimensional domains; however, the online optimization gets stuck in local minima when the domains h...