Good programs in the RSS model without concavity of a utility function (Q874448)
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English | Good programs in the RSS model without concavity of a utility function |
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Good programs in the RSS model without concavity of a utility function (English)
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5 April 2007
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The so-called RSS model is a problem of optimal economic growth in a model of economy formulated independently by \textit{Robinson} [Exercises in Economic Analysis, Mc Millan, London (1960)], \textit{Solow} [Review of Economic Studies 29, 207--218 (1962)] and \textit{Srinivasan} [Investment criteria and choice techniques of production, Yale Economic Essays 1, 207--218 (1962)]. The present paper considers a RSS model defined by a discrete time autonomous optimal control problem of mathematical economics and one proves that, even when one drops the assumption that the preference function is concave, one can obtain sufficient conditions for the existence of ``good'' programs.
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RSS model
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good program
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weakly maximal program
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