Asymptotic behavior of optimal paths in continuous-time Gale models (Q1100080)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Asymptotic behavior of optimal paths in continuous-time Gale models |
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Asymptotic behavior of optimal paths in continuous-time Gale models (English)
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1987
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We propose a unified approach to the proof of turnpike theorems for the homogeneous technology model of economic dynamics based on Lyapunov functions. The results for the asymptotic behavior of finite optimal paths in continuous time constitute a generalization of previous theorems for discrete-time models. We also examine the case of technology constraints variable over time.
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proof of turnpike theorems
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homogeneous technology model
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economic dynamics
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Lyapunov functions
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asymptotic behavior
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finite optimal paths
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continuous time
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