On One Multicriteria Optimal Control Problem of Economic Growth
نویسنده
چکیده
An optimal control problem of an economic system with two criteria is considered in the paper. The Solow model of economic growth is used. Rate of consumption is a control variable, quality vector criterion is a discounted utility in the long-term and near-term. Pontryagin’s maximum principle is applied to the single criteria problem with weighted sum of two functionals. The existence of the solution is investigated. The law of Pareto-optimal control, such that the system converges to the balanced growth path, is derived.
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