transversality condition
In optimal control theory, a transversality condition is a boundary condition for the terminal values of the costate variables. They are one of the necessary conditions for optimality infinite-horizon optimal control problems without an endpoint constraint on the state variables.
See also
Further reading
- {{cite book |first1=Brian |last1=Beavis |first2=Ian |last2=Dobbs |title=Optimisation and Stability Theory for Economic Analysis |location=New York |publisher=Cambridge University Press |year=1990 |isbn=0-521-33605-8 |pages=252–259 |chapter=Variable Endpoints and Transversality Conditions |chapter-url=https://books.google.com/books?id=L7HMACFgnXMC&pg=PA252 }}
- {{cite book |first1=Daniel |last1=Léonard |first2=Ngo Van |last2=Long |title=Optimal Control Theory : Static Optimization in Economics |location=New York |publisher=Cambridge University Press |year=1992 |isbn=0-521-33746-1 |chapter=Endpoint Constraints and Transversality Conditions |pages=221–262 |chapter-url=https://books.google.com/books?id=gSHxK5Cq4BgC&pg=PA221 }}
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