Geodesic
Application of the maximum principle to minimizing total production costs
Itogi nauki i tehniki. Sovremennaâ matematika i eë priloženiâ. Tematičeskie obzory, Optimal control, Tome 178 (2020), pp. 150-153.

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There are no common methods of the search for optimal solutions to problems of economic dynamics. Application of variational methods is possible for a quite narrow class of problems. In this paper, we discuss application of the Pontryagin maximum principle, which significantly expands the class of problems considered and allows one to obtain numerical solutions.
Mots-clés : calculus of variation
Keywords: optimal control, Pontryagin maximum principle, economic dynamics. 
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V. V. Kiselev. Application of the maximum principle to minimizing total production costs. Itogi nauki i tehniki. Sovremennaâ matematika i eë priloženiâ. Tematičeskie obzory, Optimal control, Tome 178 (2020), pp. 150-153. http://geodesic.mathdoc.fr/item/INTO_2020_178_a10/

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