2024/05/23 by Lukas Schwenkel, Schwenkel, Lukas, Daniel Briem +5
Economics, Econometrics and Finance · Engineering · #Advanced Control Systems Optimization #Economic theories and models #FOS: Electrical engineering #FOS: Mathematics #Optimization and Control (math.OC) #Systems and Control (eess.SY) #electronic engineering #information engineering
paper · pdf · doi:10.48550/arxiv.2405.14361
openalex publication_date 2024/05/23 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28
In this paper, we investigate discounted economic model predictive control (E-MPC) schemes without terminal conditions in scenarios where the optimal operating behavior is a periodic orbit. For such a setting, it is known that a linearly discounted stage cost guarantees asymptotic stability of any arbitrarily small neighborhood of the optimal orbit if the prediction horizon is sufficiently long. However, in some examples very long prediction horizons are needed to achieve the desired performance. In this work, we extend these results by providing the same qualitative stability guarantees for a large class of discount functions. Numerical examples illustrate the influence of the discount function and show that with suitable discounting we can achieve significantly better performance than the linearly discounted E-MPC, even for short prediction horizons.