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Existence of optimal strategies in linear multisector models

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  • Giuseppe Freni

  • Fausto Gozzi

  • Neri Salvadori

Abstract

In this paper we give a sufficient and almost necessary condition for the existence of optimal strategies in linear multisector models when time is continuous, consumption is limited to one commodity, the instantaneous utility is of the CES type, and available technology allows a positive growth rate.
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Suggested Citation

  • Giuseppe Freni & Fausto Gozzi & Neri Salvadori, 2006. "Existence of optimal strategies in linear multisector models," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 29(1), pages 25-48, September.
    • Handle: RePEc:spr:joecth:v:29:y:2006:i:1:p:25-48
    DOI: 10.1007/s00199-005-0025-y
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    1. Giuseppe Freni & Fausto Gozzi & Neri Salvadori, 2006. "Existence of optimal strategies in linear multisector models," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 29(1), pages 25-48, September.
    2. Becker, Robert A. & Boyd, John III & Sung, Bom Yong, 1989. "Recursive utility and optimal capital accumulation. I. Existence," Journal of Economic Theory, Elsevier, vol. 47(1), pages 76-100, February.
    3. Magill, Michael J P, 1981. "Infinite Horizon Programs," Econometrica, Econometric Society, vol. 49(3), pages 679-711, May.
    4. Morishima, Michio, 1969. "Theory of Economic Growth," OUP Catalogue, Oxford University Press, number 9780198281641.
    5. McKenzie, Lionel W, 1998. "Turnpikes," American Economic Review, American Economic Association, vol. 88(2), pages 1-14, May.
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    More about this item

    Keywords

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    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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