A current value Hamiltonian Approach for Discrete time Optimal Control Problems arising in Economic Growth

Abstract

Pontrygin-type maximum principle is extended for the present value Hamiltonian systems and current value Hamiltonian systems of nonlinear difference equations for uniform time step $h$. A new method termed as a discrete time current value Hamiltonian method is established for the construction of first integrals for current value Hamiltonian systems of ordinary difference equations arising in Economic growth theory.

References in corpus (2)

• A Partial Hamiltonian Approach for Current Value Hamiltonian Systems
• The applications of the partial Hamiltonian approach to mechanics and other areas