A turnpike property of optimal programs for a class of simple linear models of production (Q1817966)
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English | A turnpike property of optimal programs for a class of simple linear models of production |
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A turnpike property of optimal programs for a class of simple linear models of production (English)
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14 September 2001
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Optimal programs of resource allocation have a 'turnpike property' if the growth of every sector in the economy converges, in the long run, to a common value. \textit{S. Dasgupta} and \textit{T. Mitra} [J. Econ. Theory 45, No. 2, 288--315 (1988; Zbl 0664.90022)] proved that the 'turnpike property' holds for a closed linear model of production when the input requirement matrix is strictly positive. The author generalizes Dasgupta and Mitra's result to the case of a primitive input requirement matrix. Recall, that a nonnegative square matrix \(A\) is primitive if there exists a positive integer \(k\) such that \(A^k\) is a strictly positive matrix.
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turnpike theorem
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input-output matrix
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simple linear model of production
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