A TURNPIKE THEOREM FOR A FAMILY OF FUNCTIONS* - Ivie

More documents

Recommendations

Info

This dynamic optimization problem is called the reduced form in optimal growth theory. For a discussion of the connection between this de…nition and a primitive form of a standard optimal growth problem see, for instance, [7]. If±
To avoid details related with derivatives we will suppose that all felicity functions considered are de…ned on < 2n + , and to have our problem well de…ned we consider the restriction onD. For the restrictionu:D! < we impose A5 u is continuous, concave, and if(x;y) 2D; then for every(z;w) 2 < 2n + such thatz¸x,wy we have thatu(z;w) ¸u(x;y) (free disposal). It is important to notice that assumptions A1-A5 are standard in optimal growth theory. For a discussion of assumptions A1-A5 see [7]. Now for±
Page 1 and 2: A TURNPIKE THEOREM FOR A FAMILY OF
Page 3 and 4: 1. Introduction Many dynamic models
Page 5: able to rule out the kind of phenom
Page 9 and 10: i A7 i)for all±2 ³^±;1 ;(k u;±
Page 11 and 12: will have as a particular case of o
Page 13 and 14: this paper, which is a uniform turn
Page 15 and 16: With these preliminaries in place,
Page 17 and 18: and u(k u ;k u ) ¸u(x;y) +q u (y
Page 19 and 20: ¹k=k u , contradiction. Then the l
Page 21 and 22: On the othernhand, as noted o above
Page 23 and 24: ecause of the uniform bound over fu
Page 25 and 26: we have proved that, given " 0 arbi
Page 27 and 28: force optimal paths to be close to
Page 29 and 30: (B ¡¹") j¹xj 2 ¡N 1 j¹xj 3 . L
Page 31 and 32: Remark 6 Theorem 2 admits weaker as
Page 33 and 34: e less and less important as the di
Page 35: [12] K. Nishimura and M. Yano, Nonl

A TURNPIKE THEOREM FOR A FAMILY OF FUNCTIONS* - Ivie

Create successful ePaper yourself

Delete template?

Save as template?