The Duality of a Dynamic Model of Equilibrium and an Optimal Growth Model: The Heterogeneous Capital Goods Case

DOI10.2307/1882391zbMath0452.90015OpenAlexW2045795383MaRDI QIDQ3899793

Robert A. Becker

Publication date: 1981

Published in: The Quarterly Journal of Economics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.2307/1882391

zbMATH Keywords

equivalencedualitynecessary and sufficient optimality conditionssufficient conditionstransversality conditionefficient markets hypothesisintertemporal allocationdynamic equilibrium modeloptimal growth modeldecentralized economycapital value transversalityinfinite horizon concave programsinterpretation of equilibrium pricesone-consumer, heterogeneous capital goods frameworkperfect foresight path

Mathematics Subject Classification ID

Applications of mathematical programming (90C90) Economic growth models (91B62)

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