Affordable Access

Viscosity solutions to delay differential equations in demo-economy

Publication Date
  • C61 - Optimization Techniques
  • Programming Models
  • Dynamic Analysis
  • M30 - General
  • O41 - One
  • Two
  • And Multisector Growth Models
  • Mathematics


Economic and demographic models governed by linear delay differential equations are expressed as optimal control problems in infinite dimensions. A general objective function is considered and the concavity of the Hamiltonian is not required. The value function is a viscosity solution of the Hamilton-Jacobi-Bellman (HJB) equation and a verification theorem is proved.

There are no comments yet on this publication. Be the first to share your thoughts.