On Closed-loop Economic Performance under Lyapunov-Based Economic Model Predictive Control

An alternative terminal equality constraint design for Lyapunov-based economic model predictive control (LEMPC) is presented. The terminal constraint is computed at each time step by taking advantage of the availability of an explicit stabilizing feedback controller. The stabilizing feedback controller is also used in the design of specific stability constraints that are imposed in the LEMPC problem. With the terminal and stability constraints, guaranteed finite-time and infinite-time closed-loop performance under the LEMPC (to be made precise) may be shown. The LEMPC is applied to a chemical process example to demonstrate the approach.