Characterization of optimal plans for stochastic dynamic programs

DOI10.1016/0022-0531(82)90059-XzbMath0509.90021MaRDI QIDQ1838903

Lawrence E. Blume, David A. Easley, Maureen O'Hara

Publication date: 1982

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

zbMATH Keywords

stochastic dynamic programming; implicit function theorem; finite and infinite horizon problems; characterization of optimal plans; one sector infinite horizon growth problem under uncertainty

Mathematics Subject Classification ID

90C90: Applications of mathematical programming

90C15: Stochastic programming

90C39: Dynamic programming

91B62: Economic growth models

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Cites Work

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• On Optimal Economic Growth with Variable Discount Rates: Existence and Stability Results
• On the Differentiability of the Value Function in Dynamic Models of Economics
• Stochastic Equilibrium and Optimality with Rolling Plans
• Discounted Dynamic Programming