Impatience and dynamic optimal behavior: a bifurcation analysis of the Robinson-Solow-Srinivasan model
type: Item
instance of: scholarly article
title: Impatience and dynamic optimal behavior: a bifurcation analysis of the Robinson-Solow-Srinivasan model
zbMATH Open document ID: 1235.91130
author: M. Ali Khan
author: Tapan Mitra
published in: Nonlinear Analysis. Theory, Methods \& Applications. Series A: Theory and Methods
publication date: 2011-12-21T00:00:00Z
review text: The authors deal with a dynamic optimization framework which is a two-sector version of model due to the models presented by Robinson, Solow and Srinivasan, henceforth referred to as the RSS model. The outline of this paper is straightforward. Section 2 presents the preliminaries of the two-sector RSS model. Section 3 provides four lemmas which form the principal tools for characterizing optimality; self-contained proofs of these results are provided in an appendix. Section 4 presents the main results on bifurcation analysis with respect to the discount factor. Section is devoted exclusively to a more detailed analysis of the optimal policy correspondence in the borderline case.
reviewed by: Marian Matłoka
Mathematics Subject Classification ID: 91B62
Mathematics Subject Classification ID: 49J45
Mathematics Subject Classification ID: 91B66
zbMATH DE Number: 5991146
zbMATH Keywords: RSS model
zbMATH Keywords: dynamic programming
zbMATH Keywords: value function
zbMATH Keywords: optimal policy function
zbMATH Keywords: discount factor
zbMATH Keywords: bifurcation analysis
zbMATH Keywords: reswitching
MaRDI profile type: Publication
full work available at URL: j.na.2011.05.053
OpenAlex ID: W2040709899
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DOI: 10.1016/J.NA.2011.05.053
description: scientific article; zbMATH DE number 5991146