On Economic Optimality of Model Predictive Control

Abstract

Model Predictive Control (MPC) is the most used advanced control strategy in the industries, mainly due to its capability to fulfill economic objectives, taking into account a dynamic simplified model of the plant, constraints, and stability requirements. In the last years, several economic formulations of MPC have been presented, which get over the standard setpointtracking formulation. The goal of this work is to provide, by means of application to a highly nonlinear plant, a comparison of different strategies, focusing mainly on economic optimality, computational burden, and economic performance.