Equilibrium turnpike theory with time-separable utility (Q749423)
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scientific article; zbMATH DE number 4172707
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| English | Equilibrium turnpike theory with time-separable utility |
scientific article; zbMATH DE number 4172707 |
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Equilibrium turnpike theory with time-separable utility (English)
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1986
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The object is to exhibit a turnpike property for intertemporal competitive equilibrium on a certain von Neumann type of model. With reference to \textit{T. F. Bewley} [J. Math. Econ. 10, 233-267 (1982; Zbl 0513.90012)] and \textit{M. Yano} [Int. Econ. Rev. 25, 695-717 (1984; Zbl 0582.90016)], the model has added generality in that it permits variable time-separable utility functions, variable discount rates for consumers, and a weakening of assumptions about production. Methods of \textit{L. W. McKenzie} [J. Econ. Theory 30, 330-352 (1983; Zbl 0519.90026)] are exploited.
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turnpike property
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intertemporal competitive equilibrium
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variable time- separable utility functions
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