The martingale maximum principle and the allocation of labour surplus

DOI10.1016/0165-1889(87)90015-7zbMath0624.90011OpenAlexW2094956087MaRDI QIDQ579105

Mark H. A. Davis, Guillermo L. Gómez M.

Publication date: 1987

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0165-1889(87)90015-7

zbMATH Keywords

allocation of labourlabour-surplus economyoptimal development policy

Mathematics Subject Classification ID

Economic growth models (91B62) Optimal stochastic control (93E20) Stochastic analysis (60H99) Existence theories in calculus of variations and optimal control (49J99)

Cites Work

• Functionals of diffusion processes as stochastic integrals
• Necessary and Sufficient Dynamic Programming Conditions for Continuous Time Stochastic Optimal Control
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