Two-term large-time asymptotic expansion of the value function for dissipative nonlinear optimal control problems

Considering a general nonlinear dissipative finite dimensional optimal control problem in fixed time horizon T , we establish a two-term asymptotic expansion of the value function as $T\to +\mathrm{\infty }$. The dominating term is T times the optimal value obtained from the optimal static problem within the classical turnpike theory. The second term, of order unity, is interpreted as the sum of two values associated with optimal stabilization problems related to the turnpike.