Equilibrium turnpike theory with time-separable utility (Q749423): Difference between revisions

The object is to exhibit a turnpike property for intertemporal competitive equilibrium on a certain von Neumann type of model. With reference to \textit{T. F. Bewley} [J. Math. Econ. 10, 233-267 (1982; Zbl 0513.90012)] and \textit{M. Yano} [Int. Econ. Rev. 25, 695-717 (1984; Zbl 0582.90016)], the model has added generality in that it permits variable time-separable utility functions, variable discount rates for consumers, and a weakening of assumptions about production. Methods of \textit{L. W. McKenzie} [J. Econ. Theory 30, 330-352 (1983; Zbl 0519.90026)] are exploited.