Optimal Growth Models with Bounded or Unbounded Returns : a Unifying Approach
In this paper we propose a unifying approach to study optimal growth models with bounded or unbounded returns. We prove existence of optimal solutions. We prove also, without using contraction method, that the value function is the unique solution to the Bellman equation in some classes of functions.
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|Date of creation:||2000|
|Date of revision:|
|Contact details of provider:|| Postal: France; Universite de Paris I - Pantheon- Sorbonne, 12 Place de Pantheon-75005 Paris, France|
Phone: + 33 44 07 81 00
Fax: + 33 1 44 07 83 01
Web page: http://cermsem.univ-paris1.fr/
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- Dana, Rose-Anne & Van, Cuong Le, 1991.
"Optimal growth and Pareto optimality,"
Journal of Mathematical Economics,
Elsevier, vol. 20(2), pages 155-180.
- Jorge DurÂn, 2000.
"On dynamic programming with unbounded returns,"
Springer;Society for the Advancement of Economic Theory (SAET), vol. 15(2), pages 339-352.
- Duran, Jorge, 1997. "On Dynamic Programming with Unbounded Returns," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1997033, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Duran, Jorge, 1997. "On dynamic programming with unbounded returns," CEPREMAP Working Papers (Couverture Orange) 9710, CEPREMAP.
- Becker, Robert A & Boyd, John H, III & Foias, Ciprian, 1991. "The Existence of Ramsey Equilibrium," Econometrica, Econometric Society, vol. 59(2), pages 441-60, March.
- Alvarez, Fernando & Stokey, Nancy L., 1998. "Dynamic Programming with Homogeneous Functions," Journal of Economic Theory, Elsevier, vol. 82(1), pages 167-189, September.
- Boud, John III, 1990. "Recursive utility and the Ramsey problem," Journal of Economic Theory, Elsevier, vol. 50(2), pages 326-345, April.
- Peter A. Streufert, 1990. "Stationary Recursive Utility and Dynamic Programming under the Assumption of Biconvergence," Review of Economic Studies, Oxford University Press, vol. 57(1), pages 79-97.
- Streufert, Peter A., 1992. "An abstract topological approach to dynamic programming," Journal of Mathematical Economics, Elsevier, vol. 21(1), pages 59-88.
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