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Jaakkola, N. and Wagener, F. (2026). Monotone optimal trajectories in continuous-time infinite horizon optimal control problems Journal of Mathematical Economics, 125.

  • Journal
    Journal of Mathematical Economics
View publication

We give weak conditions for a continuous time optimal control problem with one-dimensional state space to have monotone optimal trajectories. These conditions include a concavity condition on the Lagrange function. If that condition is changed to strict concavity, then all optimal trajectories are monotone.