On the minimum rate of impatience for complicated optimal growth paths (Q4499609)
From MaRDI portal
!
This is the item page for this Wikibase entity, intended for internal use and editing purposes. Please use the normal view instead:
scientific article; zbMATH DE number 1500766
| Language | Label | Description | Also known as |
|---|---|---|---|
| default for all languages | No label defined |
||
| English | On the minimum rate of impatience for complicated optimal growth paths |
scientific article; zbMATH DE number 1500766 |
Statements
2 June 2002
0 references
chaotic functions
0 references
concave optimal growth model
0 references
logistic map
0 references
0.8344067335128784
0 references
0.8194383978843689
0 references
On the minimum rate of impatience for complicated optimal growth paths (English)
0 references
The author proves that certain chaotic functions like the logistic map cannot be optimal policy functions in any strictly concave optimal growth model with a reasonable rate of time preference. Note that the author does not claim that any other type of complicated dynamics is impossible in such models. For the entire collection see [Zbl 0980.90001].
0 references
