Ramsey’s Discrete-Time Growth Model: A Markov Decision Approach with Stochastic Labor

DOI10.1007/978-3-319-53982-9_13zbMath1360.90285OpenAlexW2588381834MaRDI QIDQ2980178

Hugo Cruz-Suárez, G. Zacarías-Espinoza, Enrique Lemus-Rodríguez

Publication date: 28 April 2017

Published in: Operations Research and Enterprise Systems (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1007/978-3-319-53982-9_13

zbMATH Keywords

stabilitydynamic programmingMarkov decision processesEuler equationRamsey's growth model

Mathematics Subject Classification ID

Dynamic programming (90C39) Economic growth models (91B62) Markov and semi-Markov decision processes (90C40)

Cites Work

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• An envelope theorem and some applications to discounted Markov decision processes
• Almost sure convergence to zero in stochastic growth models
• Markov Chains and Stochastic Stability
• Error bounds for rolling horizon policies in discrete-time Markov control processes

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