Optimal growth in a stochastic environment: Some sensitivity and turnpike results

DOI10.1016/0022-0531(87)90117-7zbMath0638.90024OpenAlexW2015500204MaRDI QIDQ1099766

Itzhak Zilcha, Mukul K. Majumdar

Publication date: 1987

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0022-0531(87)90117-7

zbMATH Keywords

uncertaintySensitivityturnpike propertyaggregative model of dynamic optimizationexistence of a unique finite horizon optimal programRamsey-Euler conditions

Mathematics Subject Classification ID

Stochastic programming (90C15) Dynamic programming (90C39) Economic growth models (91B62)

Related Items

Ruling out multiplicity of smooth equilibria in dynamic games: a hyperbolic discounting example, Propensity to consume and the optimality of Ramsey-Euler policies, Recursive utility and optimal growth under uncertainty, Long-run invariance in economic dynamics: a note, Uncertain horizon and stability. Analysis in an optimal growth model, Turnpike theorems for Markov games, Interior optima and the Inada conditions, Stochastic growth, conservation of capital and convergence to a positive steady state, Martingale analysis of dynamic tax incidence in a nonstationary growth model, Recursive utility, martingales, and the asymptotic behaviour of optimal processes, The stochastic turnpike property without uniformity in convex aggregate growth models, Asymmetric outcome in a symmetric dynamic duopoly, Stochastic optimal growth with unbounded shock

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