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An Experimental Test of an Optimal Growth Model

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  • Lei, V.
  • Noussair, C.

Abstract

This paper describes the behavior of an experimental economy with the structure of the Ramsey-Cass-Koopmans model of optimal growth. In the model, the level of consumption and capital stock converge to an optimal steady state level, regardless of the level of initial endowment. The main question considered in this study is whether such the level of initial endowment.

Suggested Citation

  • Lei, V. & Noussair, C., 2000. "An Experimental Test of an Optimal Growth Model," Purdue University Economics Working Papers 1131, Purdue University, Department of Economics.
    • Handle: RePEc:pur:prukra:1131
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    References listed on IDEAS

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    More about this item

    Keywords

    ECONOMIC GROWTH ; ECONOMIC MODELS;

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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