Introduction to Hamiltonian dynamics in economics

DOI10.1016/0022-0531(76)90025-9zbMath0391.90024OpenAlexW2125082836MaRDI QIDQ1251580

Karl Shell, David Cass

Publication date: 1976

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

Full work available at URL: https://doi.org/10.1016/0022-0531(76)90025-9

zbMATH Keywords

Capital Accumulation State EquilibriumEconomic Growth ModelsHamiltonian Dynamics In EconomicsLong-Run Steady State Equilibrium

Mathematics Subject Classification ID

Economic growth models (91B62)

Related Items (11)

Turnpike theory. Some new results on the saddle point property of equilibria and on the existence of endogenous cycles ⋮ Efficiency and optimality in stochastic models with production ⋮ Oscillations in optimal growth models ⋮ On the Mitra-Wan forest management problem in continuous time ⋮ The saddle point property in Hamiltonian systems ⋮ Path-dependence in a Ramsey model with resource amenities and limited regeneration ⋮ On an optimal control strategy in a kinetic social dynamics model ⋮ The condition of self-steering of economic development ⋮ A partial Hamiltonian approach for current value Hamiltonian systems ⋮ Economic dynamics ⋮ On the optimality of limit cycles in dynamic economic systems

Cites Work

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• Saddle points of Hamiltonian systems in convex Lagrange problems having a nonzero discount rate
• A growth property in concave-convex Hamiltonian systems
• A characterization of the normalized restricted profit function
• On optimal steady states of n-sector growth models when utility is discounted
• Global asymptotic stability of optimal control systems with applications to the theory of economic growth
• The structure and stability of competitive dynamical systems
• Existence of solutions to Hamiltonian dynamical systems of optimal growth
• Saddle points of Hamiltonian systems in convex problems of Lagrange
• On the Stability of a Pure Exchange Equiliblium
• The General Instability of a Class of Competitive Growth Processes

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