Template-Type: ReDIF-Paper 1.0
Series: Tinbergen Institute Discussion Papers
Creation-Date: 2025-10-13
Number: 25-061/II
Author-Name: Niko Jaakkola
Author-Workplace-Name: University of Bologna
Author-Name: Florian Wagener
Author-Workplace-Name: University of Amsterdam
Title: Monotone optimal trajectories
Abstract: We give weak conditions for a continuous time optimal control problem with one-dimensional state space to have monotone optimal trajectories. These conditions include a concavity condition on the Lagrange function. If that condition is changed to strict concavity, then all optimal trajectories are monotone.
Classification-JEL: C02, C61
Keywords: infinite horizon optimal control, monotone trajectories
File-URL: https://papers.tinbergen.nl/25061.pdf
File-Format: application/pdf
File-Size: 449.714 bytes
Handle: RePEc:tin:wpaper:20250061