Existence of optimal strategies in linear multisector models
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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Volume (Year): 29 (2006)
Issue (Month): 1 (September)
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- Magill, Michael J P, 1981. "Infinite Horizon Programs," Econometrica, Econometric Society, vol. 49(3), pages 679-711, May.
- Giuseppe Freni & Fausto Gozzi & Neri Salvadori, 2006.
"Existence of optimal strategies in linear multisector models,"
Springer, vol. 29(1), pages 25-48, September.
- Giuseppe Freni & Fausto Gozzi & Neri Salvadori, 2004. "Existence of Optimal Strategies in linear Multisector Models," Discussion Papers 2004/29, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
- 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.
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