An extension of Cass' characterization of infinite efficient production programs

DOI10.1016/0022-0531(75)90052-6MaRDI QIDQ1218784zbMATH OpenOpenAlexFDO

Authors David Gale, Lawrence M. Benveniste

Publication date 1975

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0022-0531(75)90052-6

Mathematics Subject Classification ID

Numerical methods in optimal control (49M99) Production models (90B30) Mathematical economics (91B99)

Cited in

(12)

• Dualizing optimization problems in mathematical economics
• Characterizing efficiency in stochastic overlapping generations models
• A complete characterization of efficiency for a general capital accumulation model
• Identifying inefficiency in smooth aggregative models of economic growth
• A note on efficient growth with irreversible investment and the Phelps- Koopmans theorem
• Existence in undiscounted non-stationary non-convex multisector environments
• Nonshiftable capital, affine price expectations and convergence to the golden rule.
• Equilibrium and optimality: some imprints of David Gale
• Efficient Ramsey equilibria
• Economic dynamics
• Efficiency in one sector, discrete-time, infinite-horizon models
• Dynamic efficiency in overlapping generations models with stochastic production

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