Have we missed the right version of the Ramsey model?
Unexpectedly, and as a result of a simple exercise of intellectual curiosity, the resolution of the Ramsey growth problem with a Utility function underlying relative preferences for consumption and savings, provides remarkable results and interpretations. An advanced microeconomic analysis of this particular assumption which follows consequently, and presumably the sole one of the literature, appears to bring important new insights to the consumer theory, and to lead reasonably to the question of the validity of the current version of the Ramsey model.
|Date of creation:||2013|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Heng-fu Zou, 1995.
"'The spirit of capitalism' and long-run growth,"
CEMA Working Papers
94, China Economics and Management Academy, Central University of Finance and Economics.
- Dorfman, Robert, 1969. "An Economic Interpretation of Optimal Control Theory," American Economic Review, American Economic Association, vol. 59(5), pages 817-31, December.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:50302. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht)
If references are entirely missing, you can add them using this form.