The paper investigates the open-loop equilibrium strategy for linear-quadratic time-inconsistent control problems. It derives an equilibrium maximum principle for this strategy and establishes the equivalence among the open-loop equilibrium strategy, two-point boundary value problems, and the equilibrium Riccati equation. Additionally, examples are provided to illustrate the essential differences among the open-loop equilibrium strategy, the closed-loop equilibrium strategy, and the optimal control.
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Article type
Year
Open Access
Research Article
Issue
AIMS Mathematics 2025, 10(3): 5480-5494
Published: 15 March 2025
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