Envelope theorem in dynamic economic models with recursive utility

DOI10.1016/J.ECONLET.2017.11.018MaRDI QIDQ1787264zbMATH OpenOpenAlexFDO

Authors Juan Pablo Rincón-Zapatero, Yanyun Zhao

Publication date 5 October 2018

Published in Economics Letters (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.econlet.2017.11.018

zbMATH Keywords

dynamic economic modelsfirst-order differentiabilityrecursive utility

Mathematics Subject Classification ID

Economic dynamics (91B55) Economic growth models (91B62)

Recommendations

• The envelope theorem in dynamic optimization
• The envelope theorem, Euler and Bellman equations, without differentiability
• Differentiability of the value function without interiority assumptions
• Differentiability of the value function in continuous-time economic models
• Generalized envelope theorems: applications to dynamic programming

Cites work

• Differentiability of the value function without interiority assumptions
• On the Differentiability of the Value Function in Dynamic Models of Economics
• Optimal growth with many consumers
• Recursive utility and the Ramsey problem

Cited in

(3)

• The envelope theorem, Euler and Bellman equations, without differentiability
• Differentiability of the value function in continuous-time economic models
• The envelope theorem in dynamic optimization

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