We consider the discounted aggregative model of optimal economic growth with non-convex production technology. We review some of the important results on the nature and long run behavior of optimal accumulation paths and indicate how these differ qualitatively from the ones in the classical convex version of the model.

We present necessary and sufficient conditions for discrete infinite horizon optimization problems with unique solutions to be solvable. These problems can be equivalently viewed as the task of finding a shortest path in an infinite directed network. We provide general forward algorithms with stopping rules for their solution. The key condition required is that of weak reachability, which rough...

Monotonicity of optimal solutions to finite horizon dynamic optimization problems is used to prove the existence of a forecast horizon, i.e a long enough planning horizon that ensures that a first period optimal action for the infinite horizon and the finite horizon problem agree, regardless of problem parameter changes in the tail. The existence of extremal monotone optimal solutions motivates...

We show how to transform an infinite horizon optimization problem into a one-dimensional global optimization problem over a closed and bounded feasible region whose objective function is Hölder continuous with known parameters. The deep connection elicited between the two areas of study introduces several opportunities for cross-fertilization which we exploit within this paper.

An optimal control framework to support the management and control of resources in a wide range of problems arising in agriculture is discussed. Lessons extracted from past research on the weed control problem and a survey of a vast body of pertinent literature led to the specification of key requirements to be met by a suitable optimization framework.The proposed layered control structure—incl...