On a criterion of infinite-horizon efficiency
type: Item
instance of: scholarly article
title: On a criterion of infinite-horizon efficiency
zbMATH Open document ID: 0657.90030
DOI: 10.1016/0022-0531(88)90140-8
author: Abhijit Sengupta
published in: Journal of Economic Theory
publication date: 1988-01-01T00:00:00Z
review text: We prove a property of the class of programs covered by Cass' pioneering criterion of inefficiency of infinite-horizon programs [see \textit{D. Cass}, J. Econ. Theory 4, 200-223 (1972)]. A notion that we call gross inefficiency is introduced. It is, in general, a much stronger property than inefficiency. We then show that a program in the class studied by Cass is inefficient if and only if it is grossly inefficient.
Mathematics Subject Classification ID: 91B62
zbMATH DE Number: 4074775
zbMATH Keywords: infinite-horizon programs
zbMATH Keywords: gross inefficiency
MaRDI profile type: Publication
full work available at URL: 0022-0531(88)90140-8
OpenAlex ID: W2081911690
cites work: Capital Accumulation and Efficient Allocation of Resources
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description: scientific article; zbMATH DE number 4074775