Global and Local Optimal Control of a Resource Utilization Problem

  • System Dynamic models describe physical, technical, economical, or social systems using differential and algebraic equations. In their purest form, these models are intended to describe the evolution of a system from a given initial state. In many applications, it is possible to intervene with the system in order to obtain a desired dynamic or a certain outcome in the end. On the mathematical side, this leads to control problems, where aside from the simulation one has to find optimal intervention functions over time that maximize a specific objective function. Using a dynamical model for the utilization of a natural nonrenewable resource of Behrens as a demonstrator example, we present two main mathematical solution strategies. They are distinguished by the quality certificate on their respective solution: one leads to proven local optimal solution, and the other technique yields proven global optimal solutions. We present implementational and numerical issues, and a comparison of both methods.

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Metadaten
Author:Ingmar Vierhaus, Armin Fügenschuh
Document Type:In Proceedings
Parent Title (English):Proceedings of the 33rd International Conference of the System Dynamics Society
Fulltext Url:http://www.systemdynamics.org/conferences/2015/proceed/papers/P1376.pdf
Year of first publication:2015

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