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An Optimal Control Problem Related to the RSS Model

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  • Alexander J. Zaslavski

    (Department of Mathematics, Technion–Israel Institute of Technology, Haifa 32000, Israel)

Abstract

In this paper, we consider a discrete-time optimal control problem related to the model of Robinson, Solow and Srinivasan. We analyze this optimal control problem without concavity assumptions on a non-concave utility function which represents the preferences of the planner and establish the existence of good programs and optimal programs which are Stiglitz production programs.

Suggested Citation

  • Alexander J. Zaslavski, 2023. "An Optimal Control Problem Related to the RSS Model," Mathematics, MDPI, vol. 11(17), pages 1-14, September.
    • Handle: RePEc:gam:jmathe:v:11:y:2023:i:17:p:3762-:d:1230943
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    References listed on IDEAS

    as
    1. M. Ali Khan & Tapan Mitra, 2005. "On choice of technique in the Robinson–Solow–Srinivasan model," International Journal of Economic Theory, The International Society for Economic Theory, vol. 1(2), pages 83-110, June.
    2. Tomás Prieto-Rumeau & Onésimo Hernández-Lerma, 2005. "Bias and overtaking equilibria for zero-sum continuous-time Markov games," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 61(3), pages 437-454, July.
    3. Robert M. Solow, 1962. "Substitution and Fixed Proportions in the Theory of Capital," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 29(3), pages 207-218.
    4. Stiglitz, Joseph E, 1970. "Reply to Mrs. Robinson on the Choice of Technique," Economic Journal, Royal Economic Society, vol. 80(318), pages 420-422, June.
    5. N. Hritonenko & Yu. Yatsenko, 2005. "Turnpike and Optimal Trajectories in Integral Dynamic Models with Endogenous Delay," Journal of Optimization Theory and Applications, Springer, vol. 127(1), pages 109-127, October.
    6. Robinson, Joan, 1969. "A Model for Accumulation Proposed by J. E. Stiglitz," Economic Journal, Royal Economic Society, vol. 79(314), pages 412-413, June.
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