A class of linear quadratic dynamic optimization problems with state dependent constraints

In this paper, we analyse a wide class of discrete time one-dimensional dynamic optimization problems—with strictly concave current payoffs and linear state dependent constraints on the control parameter as well as non-negativity constraint on the state variable and control. This model suits well economic problems like extraction of a renewable resource (e.g. a fishery or forest harvesting). The class of sub-problems considered encompasses a...