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Transversality Conditions for Higher Order Infinite Horizon Discrete Time Optimization Problems


  • Dapeng Cai
  • Takashi Gyoshin Nitta


In this paper, we examine higher order difference problems. Using the "squeezing" argument, we derive both Euler's condition and the transversality condition. In order to derive the two conditions, two needed assumptions are identified. A counterexample, in which the transversality condition is not satisfied without the two assumptions, is also presented.

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  • Dapeng Cai & Takashi Gyoshin Nitta, 2010. "Transversality Conditions for Higher Order Infinite Horizon Discrete Time Optimization Problems," Papers 1004.3093,
  • Handle: RePEc:arx:papers:1004.3093

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