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In this work, we design a terminal cost for economic model predictive control (EMPC) which preserves local optimality. We first show, based on the strong duality and second order sufficient condition (SOSC) of the steady-state optimization problem, that the optimal operation of the system is locally equivalent to an infinite-horizon LQR controller. The proposed terminal cost is constructed as the...
Control performance and cost optimization can be conflicting goals in the management of industrial processes. Even when optimal or optimization-based control synthesis tools are applied, the economic cost associated with plant operation is often only optimized according to static criteria that pick, among all feasible steady states, those with minimal cost. In mathematical terms, an economic cost...
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