Recursive utility and the Ramsey problem

DOI10.1016/0022-0531(90)90006-6zbMath0716.90011OpenAlexW2140001243MaRDI QIDQ753632

John H. III Boyd

Publication date: 1990

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0022-0531(90)90006-6

zbMATH Keywords

existencecontinuityoptimal paths

Mathematics Subject Classification ID

Utility theory (91B16) Economic growth models (91B62)

Related Items (47)

Duality between discounted and undiscounted models of optimal growth for a class of utility functions ⋮ Existence and uniqueness of recursive utilities without boundedness ⋮ Recursive utility and optimal capital accumulation. II: Sensitivity and duality theory ⋮ An example of the Peleg and Yaari economy ⋮ Unbounded dynamic programming via the Q-transform ⋮ Recursive utility and the rate of impatience ⋮ Balanced-growth-consistent recursive utility ⋮ Recursive utility with unbounded aggregators ⋮ Recursive utility and optimal growth with bounded or unbounded returns ⋮ A simple optimality-based no-bubble theorem for deterministic sequential economies with strictly monotone preferences ⋮ Existence in undiscounted non-stationary non-convex multisector environments ⋮ Recursive utility and optimal growth under uncertainty ⋮ Equilibria in altruistic economic growth models ⋮ An approximation approach to dynamic programming with unbounded returns ⋮ Asset pricing with time preference shocks: existence and uniqueness ⋮ Convex dynamic programming with (bounded) recursive utility ⋮ Stochastic optimal growth model with risk sensitive preferences ⋮ The dynamics of efficient asset trading with heterogeneous beliefs ⋮ Zero time preference with discounting ⋮ On discounted dynamic programming with unbounded returns ⋮ Discounted dynamic programming with unbounded returns: application to economic models ⋮ Unique solutions for stochastic recursive utilities ⋮ Delay aversion under a general class of preferences ⋮ Incomplete market dynamics and cross-sectional distributions ⋮ On variable discounting in dynamic programming: applications to resource extraction and other economic models ⋮ Optimal timing of decisions: a general theory based on continuation values ⋮ An abstract topological approach to dynamic programming ⋮ Stochastic dynamic programming with non-linear discounting ⋮ Thompson aggregators, Scott continuous koopmans operators, and least fixed point theory ⋮ Recursive utility, martingales, and the asymptotic behaviour of optimal processes ⋮ Utility functionals with nonpaternalistic intergenerational altruism: The case where altruism extends to many generations ⋮ Markov-perfect equilibria in intergenerational games with consistent preferences ⋮ Introduction to a general equilibrium approach to economic growth ⋮ Optimal growth models with bounded or unbounded returns: A unifying approach ⋮ Envelope theorem in dynamic economic models with recursive utility ⋮ Externalities and nonlinear discounting: Indeterminacy ⋮ Equilibrium storage with multiple commodities ⋮ Dynamic programming with homogeneous functions ⋮ Balanced-growth-consistent recursive utility and heterogeneous agents ⋮ The dynamics of optimal wealth distributions with recursive utility ⋮ Interdependent utility functions in an intergenerational context ⋮ On temporal aggregators and dynamic programming ⋮ Recursive utility and optimal capital accumulation. I: Existence ⋮ Dynamic programming for non-additive stochastic objectives ⋮ Recursive preferences and balanced growth ⋮ Equilibria of a stationary economy with recursive preferences ⋮ Optimal growth and recursive utility: Phase diagram analysis

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