Control Theory Seminar | Lars Gruene, The turnpike property: systems theoretic perspectives and its use in model predictive control

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Speaker

Lars Gruene, University of Bayreuth

Title

The turnpike property: systems theoretic perspectives and its use in model predictive control

Abstract

The turnpike property is a property of optimal control problems that was first observed by von Neumann in the 1930s. Since then it has found widespread attention in mathematical economics and control theory alike. In this talk we will first give a general introduction to and a brief history of the turnpike property, before we look at it from a systems theoretic point of view. Particularly, we will clarify its relation to dissipativity, detectability, and sensitivity properties of optimal control problems in both finite and infinite dimensions. In the final part of the talk we will explain why the turnpike property is important for analysing the performance of model predictive control schemes.