Introduction to dynamic optimization theory.
The chapter is a comprehensive survey of discrete dynamic optimization models in economics with an emphasis on the turn-pike properties of these models for high discount factors (low time-preference rates). Stating with the reduced form characterization these models, the chapter covers the topics of the characterization of optimality (in terms of both the primal and dual variables), comparative dynamics, and the existence of global asymptotic stability of the stationary optimal stock. The section on comparative dynamics, a topic of more recent interest, presents some very useful recent results on the nature of the value of policy functions. For the entire collection see [Zbl 0980.90001].
- On the smoothness of optimal paths
- Ergodic transport theory and piecewise analytic subactions for analytic dynamics
- Impatience implication of weakly Paretian orders: existence and genericity
- The involution kernel and the dual potential for functions in the Walters' family
- On locally optimal programs in the Robinson-Solow-Srinivasan model
- Negative entropy, zero temperature and Markov chains on the interval
- Equilibrium and optimality: some imprints of David Gale
- The Z-transform and comparative dynamics in discrete-time models
- Discrete-Time Recursive Utility
- scientific article; zbMATH DE number 3989062 (Why is no real title available?)
- On the Mitra-Wan forestry model: a unified analysis
- Optimal control of renewable resources with alternative use
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