relationship between maximum principle and dynamic programming for stochastic recursive optimal control problems and applications

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ID: 189537
2013
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Abstract
This paper is concerned with the relationship between maximum principle and dynamic programming for stochastic recursive optimal control problems. Under certain differentiability conditions, relations among the adjoint processes, the generalized Hamiltonian function, and the value function are given. A linear quadratic recursive utility portfolio optimization problem in the financial engineering is discussed as an explicitly illustrated example of the main result.
Reference Key
shi2013mathematicalrelationship Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors ;Jingtao Shi;Zhiyong Yu
Journal journal of power sources
Year 2013
DOI
10.1155/2013/285241
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