Alexander Zaslavski, Technion
"Turnpike properties in the calculus of variation"
The talk is devoted to the recent progress in the turnpike theory. The turnpike properties are well-known in mathematical economics. The term was first coined by Samuelson in 1948 who showed that an efficient expanding economy would spend most of time in the vicinity of a balanced equilibrium path (also called a von Neumann path). We discuss the turnpike propertiesin the calculus of variations which were stiudied in our recent research. The results show that the turnpike properties are a general phenomenon which holds for various classes of variational problems.
THURSDAY, March 20, 2003