On the optimality and stability of competitive paths in continuous time growth models

DOI10.1016/0022-0531(89)90041-0zbMath0685.90027OpenAlexW2058612460MaRDI QIDQ1262192

Gerhard Sorger

Publication date: 1989

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

Full work available at URL: https://doi.org/10.1016/0022-0531(89)90041-0

zbMATH Keywords

optimal controlcanonical transformationstationary statesglobal asymptotic stabilityoptimal economic growthincreasing returns to scalenonconvex technologiesmodified Hamiltonian dynamical systemsnonconcave Hamiltonian functionquadratic generating functionsufficient optimality and stability conditions

Mathematics Subject Classification ID

Application models in control theory (93C95) Economic growth models (91B62) Optimality conditions for problems involving ordinary differential equations (49K15)

Related Items (12)

Strong concavity properties of indirect utility functions in multisector optimal growth models ⋮ Local stability in endogenous growth models ⋮ The saddle point property in Hamiltonian systems ⋮ Limit cycles in intertemporal adjustment models ⋮ Tax schemes in a class of differential games ⋮ On the local stability of the solution to optimal control problems ⋮ Dynamic stability in a two-country model of optimal growth and international trade ⋮ Steady-state properties in a class of dynamic models ⋮ Limit cycles in intertemporal adjustment models. Theory and applications ⋮ On the optimality of limit cycles in dynamic economic systems ⋮ On the optimal exploitation of interacting resources ⋮ Local stability of stationary states in discounted optimal control systems

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