Geodesic
Mangasarian-type Sufficient Optimality Conditions for Age-Structured Control Problems with State Constraints. An Application to Investment in Vintage Capital
Serdica Mathematical Journal, Tome 39 (2013) no. 2, pp. 155-188.

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We consider a class of age-structured control problems with state constraints, nonlocal dynamics and boundary conditions, defined on finite time intervals. For these problems we suggest Mangasarian-type sufficient conditions for the optimality of the control. As an application we consider a model with a state constraint of optimal investment in vintage capital goods. To solve this model we suggest a numerical method and we prove that this method converges to an optimal solution. 2010 Mathematics Subject Classification: 49K20, 49K21, 49N90, 49M30.
Keywords: Age-structured optimal control with state constraints, sufficient conditions for optimality, vintage capital goods, shooting method 
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     author = {Krastev, Vladimir},
     title = {Mangasarian-type {Sufficient} {Optimality} {Conditions} for {Age-Structured} {Control} {Problems} with {State} {Constraints.} {An} {Application} to {Investment} in {Vintage} {Capital}},
     journal = {Serdica Mathematical Journal},
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Krastev, Vladimir. Mangasarian-type Sufficient Optimality Conditions for Age-Structured Control Problems with State Constraints. An Application to Investment in Vintage Capital. Serdica Mathematical Journal, Tome 39 (2013) no. 2, pp. 155-188. http://geodesic.mathdoc.fr/item/SMJ2_2013_39_2_a4/