A uniform neighborhood turnpike theorem and applications (Q1590378)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | A uniform neighborhood turnpike theorem and applications |
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A uniform neighborhood turnpike theorem and applications (English)
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21 December 2000
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The paper presents two new neighborhood-type turnpike theorems within the framework of the quasi-stationary, constant technology, reduced growth model. In contrast to the standard turnpike theorems, these results show an uniform turnpike property for solutions of a dynamic optimization problem given by a family of felicity functions. Further an application is presented: when the discount factor tends to one then the chance of the observing chaotic behavior of the optimal solution tends to zero.
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optimal growth model turnpike
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fecility functions
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