Brito, Paulo2021-12-142021-12-141997Brito, Paulo. 1997. "Local dynamics for planar optimal control problems : a complete characterization". Instituto Superior de Economia e Gestão - DE Working papers nº 7-1997/DEhttp://hdl.handle.net/10400.5/22715This paper presents a complete characterization of the local dynamics for infinite horizon continuous time discounted planar optimal control problems. A local bifurcations' approach is used to determine the local stable- center- and complex-submanifolds over a two-dimensional space defined by a transformation from the primitive parameter space. A local stability theorem and necessary conditions for the existence (and location) of one- and two-dimensional fold and Andronov-Hopf bifurcations are the main results of the paperengPlanar Optimal Control ProblemsLocal DynamicsBifurcationsworking paper