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Second-order necessary conditions for the infinite-horizon variational problems. (English) Zbl 0868.90017

Summary: We give new proofs of first-order and second-order necessary conditions for the infinite-horizon variational problems in the framework of the continuous time. We study the notion of conjugate points and we build new second-order necessary conditions. We also translate all of our results into the Hamiltonian formalism. Moreover, we apply these general results to the special Lagrangians in the form \(e^{-\delta t}l(x,\dot x)\).

MSC:

91B62 Economic growth models
49K99 Optimality conditions
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