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Economic Characterization of Reciprocal Isoperimetric Control Problems Revisited

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  • M. R. Caputo

    (University of California
    Giannini Foundation of Agricultural Economics)

Abstract

Theorem 2.1 of Caputo (Ref. 1) linking the optimal solution functions and optimal value functions of reciprocal pairs of isoperimetric control problems is correct, but requires stronger assumptions than those used explicitly to establish its veracity. One such set of stronger assumptions is provided in this note.

Suggested Citation

  • M. R. Caputo, 1999. "Economic Characterization of Reciprocal Isoperimetric Control Problems Revisited," Journal of Optimization Theory and Applications, Springer, vol. 101(3), pages 723-730, June.
    • Handle: RePEc:spr:joptap:v:101:y:1999:i:3:d:10.1023_a:1021750406667
    DOI: 10.1023/A:1021750406667
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    References listed on IDEAS

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    1. Caputo, Michael R., 1990. "How to do comparative dynamics on the back of an envelope in optimal control theory," Journal of Economic Dynamics and Control, Elsevier, vol. 14(3-4), pages 655-683, October.
    2. M. R. Caputo, 1998. "Economic Characterization of Reciprocal Isoperimetric Control Problems," Journal of Optimization Theory and Applications, Springer, vol. 98(2), pages 325-350, August.
    3. Hadley, G. & Kemp, M. C., 1971. "Variational Methods in Economics," Elsevier Monographs, Elsevier, edition 1, number 9780720436013 edited by Bliss, C. J..
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    Cited by:

    1. Savin Treanţă, 2022. "Lagrange-Hamilton Approach in Optimization Problems with Isoperimetric-Type Constraints," Journal of Optimization Theory and Applications, Springer, vol. 194(2), pages 508-520, August.
    2. Akpalu, Wisdom & Vondolia, Godwin K., 2012. "Bioeconomic model of spatial fishery management in developing countries," Environment and Development Economics, Cambridge University Press, vol. 17(2), pages 145-161, April.
    3. L. Grosset & B. Viscolani, 2006. "Reciprocal Optimal Control Problems and the Associated Pareto Frontier," Journal of Optimization Theory and Applications, Springer, vol. 130(1), pages 113-123, July.
    4. Akpalu, Wisdom & Parks, Peter J., 2007. "Natural resource use conflict: gold mining in tropical rainforest in Ghana," Environment and Development Economics, Cambridge University Press, vol. 12(1), pages 55-72, February.

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