Implicitly additive utility and the nature of optimal economic growth (Q1083016)
From MaRDI portal
 | This is the item page for this Wikibase entity, intended for internal use and editing purposes. Please use this page instead for the normal view: Implicitly additive utility and the nature of optimal economic growth |
scientific article; zbMATH DE number 3974679
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Implicitly additive utility and the nature of optimal economic growth |
scientific article; zbMATH DE number 3974679 |
Statements
Implicitly additive utility and the nature of optimal economic growth (English)
0 references
1986
0 references
An implicitly additive utility function on a consumption set is defined. This function has the property that each of its indifference sets is also an indifference set for some other utility function which is additive and has a constant rate of discount. It is proved that the turnpike property of optimal consumption programs in an aggregative optimal growth model is valid also for such utility functions. A characterization of implicity additive utility functions are given.
0 references
implicitly additive utility function
0 references
constant rate of discount
0 references
turnpike property
0 references
optimal consumption programs
0 references
aggregative optimal growth
0 references
0 references
