Turnpike theorem: The case when utility is not additively separable with respect to time (Q915617)
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scientific article; zbMATH DE number 4152094
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Turnpike theorem: The case when utility is not additively separable with respect to time |
scientific article; zbMATH DE number 4152094 |
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Turnpike theorem: The case when utility is not additively separable with respect to time (English)
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1989
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The paper refers to a recent work by the author [Optimizatsiya 41(58), 88-101 (1987; Zbl 0692.90023)]. It contains an interesting and nonconventional twisted turnpike theorem in a nonstationary economic growth model with a nonadditive utility function defined on a given planning period. According to the theorem, within a sufficienly long time span, the distance between any two optimal trajectories of production and consumption in such a model converges to zero.
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twisted turnpike theorem
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nonstationary economic growth
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nonadditive utility function
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