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Received June 30, 2022; Accepted February 6, 2023; Published May 19, 2023
Abstract. We solve a bimodal optimal control problem with a non-concavity and uncertainty through a Poisson process underlying the transition from a mode to another. We use a dynamic programming approach and are able to uncover the global optimal dynamics (including optimal non-monotonic paths) under a few linear-quadratic assumptions, which do not get rid of the non-concavity of the problem. This is in contrast to the related literature on pollution control under irreversibility which usually explores local dynamics along monotonic solution paths to first-order Pontryagin conditions.
How to Cite this Article:
R. Boucekkine, W. Ruan, B. Zou, A dynamic programming approach to optimal pollution control under uncertain irreversibility: The Poisson case, Commun. Optim. Theory 2023 (2023) 22.