This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Some Clarifications on the Transversality Condition

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Michel, Philippe

Additional information is available for the following registered author(s):

Abstract

In this paper, the authors study a general concave discrete-time, infinite-horizon, optimal-control problem. They establish necessary and sufficient conditions for optimality in the weak sense of W. A. Brock and for optimality in the strong sense of D. Gale. The corresponding transversality conditions are general exhaustion properties of the limit value of the optimal state variables; these properties cover and extend the well-known results obtained in special cases. Copyright 1990 by The Econometric Society.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://links.jstor.org/sici?sici=0012-9682%28199005%2958%3A3%3C705%3ASCOTTC%3E2.0.CO%3B2-3&origin=repec
File Format: application/pdf
File Function: full text
Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Publisher Info
Article provided by Econometric Society in its journal Econometrica.

Volume (Year): 58 (1990)
Issue (Month): 3 (May)
Pages: 705-23
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ecm:emetrp:v:58:y:1990:i:3:p:705-23

Contact details of provider:
Phone: 1 212 998 3820
Fax: 1 212 995 4487
Email:
Web page: http://www.econometricsociety.org/
More information through EDIRC

Order Information:
Email:
Web: http://www.blackwellpublishing.com/memb.asp?ref=0012-9682

For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).

Related research
Keywords:

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Dapeng CAI & Takashi Gyoshin NITTA, 2008. "Constructing the Optimal Solutions to the Undiscounted Continuous-Time Infinite Horizon Optimization Problems," Quantitative Finance Papers 0803.4046, arXiv.org. [Downloadable!]
  2. CARDIA, Emanuela & MICHEL, Philippe, 2003. "Altruism, Intergenerational Transfers of Time and Bequests," Cahiers de recherche 02-2003, Centre interuniversitaire de recherche en économie quantitative, CIREQ. [Downloadable!]
    Other versions:
  3. Takashi Kamihigashi, 2007. "On the Principle of Optimality for Nonstationary Deterministic Dynamic Programming," Discussion Paper Series 200, Research Institute for Economics & Business Administration, Kobe University. [Downloadable!]
  4. Dapeng CAI & Takashi Gyoshin NITTA, 2008. "Limit of the Solutions for the Finite Horizon Problems as the Optimal Solution to the Infinite Horizon Optimization Problems," Quantitative Finance Papers 0803.4050, arXiv.org. [Downloadable!]
  5. Takashi Kamihigashi, 2004. "Necessity of the Transversality Condition for Stochastic Models with Bounded or CRRA Utility," Discussion Paper Series 152, Research Institute for Economics & Business Administration, Kobe University. [Downloadable!]
  6. Alexandra Rillaers & David de la Croix & Geraldine Mahieu, 2003. "How Should The Allocation Of Resources Adjust To The Baby Bust?," Working Papers. Serie AD 2003-27, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
  7. Takashi Kamihigashi, 2002. "Necessity of Transversality Conditions for Stochastic Problems," Discussion Paper Series 128, Research Institute for Economics & Business Administration, Kobe University. [Downloadable!]
  8. Amigues, Jean-Pierre & Moreaux, Michel, 2008. "Efficient and Optimal Capital Accumulation under a Non Renewable Resource Constraint," IDEI Working Papers 51, Institut d'Économie Industrielle (IDEI), Toulouse. [Downloadable!]
  9. Takashi Kamihigashi, 2004. "Necessity of the Transversality Condition for Stochastic Models with Bounded or CRRA Utility," Discussion Paper Series 162, Research Institute for Economics & Business Administration, Kobe University, revised Oct 2004. [Downloadable!]
  10. Pascal Belan, 1998. "Transferts intergénérationnels : étude dans une petite économie ouverte," Annales d'Economie et de Statistique, ADRES, issue 52, pages 08, Octobre-D. [Downloadable!]
    Other versions:
  11. Buiter, Willem H, 2004. "Helicopter Money: Irredeemable Fiat Money and the Liquidity Trap," CEPR Discussion Papers 4202, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  12. Carine Nourry & Alain Venditti, 2000. "Agents hétérogènes, croissance et déterminations de l'équilibre," Annales d'Economie et de Statistique, ADRES, issue 59, pages 11, Juillet-S. [Downloadable!]
    Other versions:
  13. Takashi Kamihigashi, 2001. "Necessity of Transversality Conditions for Stochastic Problems," Department of Economics Working Papers 01-02, Stony Brook University, Department of Economics. [Downloadable!]
  14. Philippe Michel & Gilles Rotillon, 1995. "Disutility of pollution and endogenous growth," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 6(3), pages 279-300, October. [Downloadable!] (restricted)
  15. Jean-Pierre Vidal, 1996. "Altruisme et hétérogénéité," Annales d'Economie et de Statistique, ADRES, issue 43, pages 03, Juillet-S. [Downloadable!]
Statistics
Access and download statistics

Did you know? All bibliographic data on IDEAS has been put in the public domain by the publishers.

This page was last updated on 2009-11-12.


This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.