Interior Optima and the Inada Conditions
We present a new proof of the interiority of the policy function based on the Inada conditions. It is based on supporting properties of concave functions.
|Date of creation:||Apr 2007|
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- Majumdar, Mukul & Zilcha, Itzhak, 1987. "Optimal growth in a stochastic environment: Some sensitivity and turnpike results," Journal of Economic Theory, Elsevier, vol. 43(1), pages 116-133, October.
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