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• W2892216995 abstract "Infinite horizon optimization problems accompany two perplexities. First, the infinite series of utility sequences may diverge. Second, boundary conditions at the infinite terminal time may not be rigorously expressed. In this paper, we show that by extending real numbers to hyper-real numbers, an optimal solution that treats the future equally without discounting (at a zero rate of time preference) can be obtained. We also show that under fairly general conditions, such a path is optimal among all the feasible paths in the real number field." @default.
• W2892216995 created "2018-09-27" @default.
• W2892216995 creator A5014683916 @default.
• W2892216995 creator A5072724656 @default.
• W2892216995 date "2007-01-13" @default.
• W2892216995 modified "2023-09-23" @default.
• W2892216995 title "Solving Infinite Horizon Optimization Problems under Constraints without Discounting" @default.
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• W2892216995 hasPublicationYear "2007" @default.
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