On characterizing optimality of stochastic competitive processes

DOI10.1016/0022-0531(88)90272-4zbMath0664.90020OpenAlexW1979808712MaRDI QIDQ1115788

Yaw Nyarko

Publication date: 1988

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

Full work available at URL: https://doi.org/10.1016/0022-0531(88)90272-4

zbMATH Keywords

optimal growthtransversality conditionintertemporal resource allocationstochastic economiesinfinite-horizon economiesoptimal stationary process

Mathematics Subject Classification ID

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

Related Items (4)

Propensity to consume and the optimality of Ramsey-Euler policies ⋮ Decentralization in infinite horizon economies: An introduction ⋮ On characterizing optimal competitive programs in terms of decentralizable conditions ⋮ Optimality of Ramsey-Euler policy in the stochastic growth model

Cites Work

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• Optimal intertemporal allocation mechanisms and decentralization of decisions
• On the asymptotic behavior of stochastic economic processes. Two examples from intertemporal allocation under uncertainty
• Transversality Condition in a Multi-Sector Economy under Uncertainty
• On Competitive Prices in a Multi-Sector Economy with Stochastic Production and Resources
• On Existence of Weakly Maximal Programmes in a Multi-Sector Economy

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