From Linear to Nonlinear Utility in Vintage Capital Models
AbstractOptimization problems with nonlinear utility and endogenous capital lifetime are investigated in one- and two-sector modifications of the Solow vintage capital model. Both models have the same balanced growth path in the case of exponential technological change and labour. Turnpike theorems in normal form are proved for the optimal capital lifetime in both models. The differences between the cases of the linear and nonlinear utility are highlighted.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Mathematical Population Studies.
Volume (Year): 15 (2008)
Issue (Month): 4 ()
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- HRITONENKO, Natali & YATSENKO, Yuri, . "From linear to nonlinear utility in vintage capital models," CORE Discussion Papers RP, UniversitÃ© catholique de Louvain, Center for Operations Research and Econometrics (CORE) -2148, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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- Giorgio Fabbri & Silvia Faggian & Giuseppe Freni, 2014.
"On The Mitra-Wan Forest Management Problem in Continuous Time,"
Documents de recherche, Centre d'Ãtudes des Politiques Ãconomiques (EPEE), UniversitÃ© d'Evry Val d'Essonne
14-04, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
- Silvia Faggian & Giorgio Fabbri & Giuseppe Freni, 2013. "On the Mitra--Wan Forest Management Problem in Continuous Time," Working Papers, Department of Economics, University of Venice "Ca' Foscari" 2013:28, Department of Economics, University of Venice "Ca' Foscari".
- Giorgio FABBRI & Silvia FAGGIAN & Giuseppe FRENI, 2014. "On the Mitra-Wan Forest Management Problem in Continuous Time," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales), UniversitÃ© catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) 2014011, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
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