{
  "id": "2403.15159",
  "version": "v1",
  "published": "2024-03-22T12:15:22.000Z",
  "updated": "2024-03-22T12:15:22.000Z",
  "title": "Near-optimal performance of stochastic economic MPC",
  "authors": [
    "Jonas Schießl",
    "Ruchuan Ou",
    "Timm Faulwasser",
    "Michael H. Baumann",
    "Lars Grüne"
  ],
  "categories": [
    "math.OC"
  ],
  "abstract": "This paper presents first results for near optimality in expectation of the closed-loop solutions for stochastic economic MPC. The approach relies on a recently developed turnpike property for stochastic optimal control problems at an optimal stationary process, combined with techniques for analyzing time-varying economic MPC schemes. We obtain near optimality in finite time as well as overtaking and average near optimality on infinite time horizons.",
  "revisions": [
    {
      "version": "v1",
      "updated": "2024-03-22T12:15:22.000Z"
    }
  ],
  "analyses": {
    "keywords": [
      "stochastic economic mpc",
      "near-optimal performance",
      "stochastic optimal control problems",
      "optimality",
      "infinite time horizons"
    ],
    "note": {
      "typesetting": "TeX",
      "pages": 0,
      "language": "en",
      "license": "arXiv",
      "status": "editable"
    }
  }
}