Economic optimality in MPC: A comparative study

Model Predictive Control (MPC) is one of the most used advanced control strategy in the industries, mainly due to its capability to fulfill economic objectives, taking into account a simplified dynamic model of the plant, constraints, and stability requirements. In the last years, several economic formulations of MPC have been presented, which overcome the standard setpoint-tracking 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 (understood as transient economic optimality).