Optimal growth models and the Lagrange multiplier
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Publication:1877828
The authors extend the Lagrangian to infinite dimensional spaces and provide sufficient conditions for the Lagrangian to be represented by a summable sequence of multipliers in infinite discrete time horizon optimal growth models. They take the approach of placing restrictions directly on the asymptotic behaviors of the objective functional and the constraint functions.
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Cited in
(25)- Complementarities and costly investment in a growth model
- Quasi equilibria for growth economies
- Optimal trajectories in a multisectoral model of economic growth
- Lagrange multipliers in incentive-constrained problems
- Explicit Lagrange multiplier for firms facing a debt ceiling constraint
- Multidimensional economic-growth models with an integral utility function
- General existence of competitive equilibrium in the growth model with an endogenous labor-leisure choice
- Strategic growth with recursive preferences: decreasing marginal impatience
- A survey of average cost problems in deterministic discrete-time control systems
- Existence of competitive equilibrium in an optimal growth model with heterogeneous agents and endogenous leisure
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- Pontryagin's principle for a class of discrete time infinite horizon optimal growth problems
- A two sector endogenous growth model with habit formation
- Optimal modes in a multidimensional model of economic growth
- Optimal growth and Pareto optimality
- Extensive and intensive growth in a neoclassical framework
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