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Strong Concavity Properties of Direct Utility Functions in Multisector Optimal Growth Models

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  • Venditti, A.
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  • Venditti, A., 1995. "Strong Concavity Properties of Direct Utility Functions in Multisector Optimal Growth Models," G.R.E.Q.A.M. 95a31, Universite Aix-Marseille III.
    • Handle: RePEc:fth:aixmeq:95a31
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    as
    1. Araujo, A, 1991. "The Once but Not Twice Differentiability of the Policy Function," Econometrica, Econometric Society, vol. 59(5), pages 1383-1393, September.
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    3. Santos, Manuel S, 1991. "Smoothness of the Policy Function in Discrete Time Economic Models," Econometrica, Econometric Society, vol. 59(5), pages 1365-1382, September.
    4. Benhabib, Jess & Nishimura, Kazuo, 1981. "Stability of Equilibrium in Dynamic Models of Capital Theory," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 22(2), pages 275-293, June.
    5. Sorger, Gerhard, 1989. "On the optimality and stability of competitive paths in continuous time growth models," Journal of Economic Theory, Elsevier, vol. 48(2), pages 526-547, August.
    6. Medio, Alfredo, 1987. "Oscillations in optimal growth models," Journal of Economic Dynamics and Control, Elsevier, vol. 11(2), pages 201-206, June.
    7. Sorger, Gerhard, 1995. "On the sensitivity of optimal growth paths," Journal of Mathematical Economics, Elsevier, vol. 24(4), pages 353-369.
    8. Benveniste, L. M. & Scheinkman, J. A., 1982. "Duality theory for dynamic optimization models of economics: The continuous time case," Journal of Economic Theory, Elsevier, vol. 27(1), pages 1-19, June.
    9. Deneckere, Raymond & Pelikan, Steve, 1986. "Competitive chaos," Journal of Economic Theory, Elsevier, vol. 40(1), pages 13-25, October.
    10. Michel, Philippe, 1990. "Some Clarifications on the Transversality Condition," Econometrica, Econometric Society, vol. 58(3), pages 705-723, May.
    11. Montrucchio, Luigi, 1995. "A New Turnpike Theorem for Discounted Programs," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 5(3), pages 371-382, May.
    12. Montrucchio, Luigi, 1987. "Lipschitz continuous policy functions for strongly concave optimization problems," Journal of Mathematical Economics, Elsevier, vol. 16(3), pages 259-273, June.
    13. Santos, Manuel S. & Vila, Jean-Luc, 1991. "Smoothness of the policy function in continuous-time economic models : The one-dimensional case," Journal of Economic Dynamics and Control, Elsevier, vol. 15(4), pages 741-753, October.
    14. Sorger, Gerhard, 1994. "Policy functions of strictly concave optimal growth models," Ricerche Economiche, Elsevier, vol. 48(3), pages 195-212, September.
    15. McKenzie, Lionel W., 2005. "Optimal economic growth, turnpike theorems and comparative dynamics," Handbook of Mathematical Economics, in: K. J. Arrow & M.D. Intriligator (ed.), Handbook of Mathematical Economics, edition 2, volume 3, chapter 26, pages 1281-1355, Elsevier.
    16. Boldrin, Michele & Montrucchio, Luigi, 1986. "On the indeterminacy of capital accumulation paths," Journal of Economic Theory, Elsevier, vol. 40(1), pages 26-39, October.
    17. Boldrin, Michele & Woodford, Michael, 1990. "Equilibrium models displaying endogenous fluctuations and chaos : A survey," Journal of Monetary Economics, Elsevier, vol. 25(2), pages 189-222, March.
    18. Boldrin, Michele & Deneckere, Raymond J., 1990. "Sources of complex dynamics in two-sector growth models," Journal of Economic Dynamics and Control, Elsevier, vol. 14(3-4), pages 627-653, October.
    19. Cartigny, Pierre & Venditti, Alain, 1994. "Turnpike theory : Some new results on the saddle point property of equilibria and on the existence of endogenous cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 18(5), pages 957-974, September.
    20. Jess Benhabib & Kazuo Nishimura, 2012. "The Hopf Bifurcation and Existence and Stability of Closed Orbits in Multisector Models of Optimal Economic Growth," Springer Books, in: John Stachurski & Alain Venditti & Makoto Yano (ed.), Nonlinear Dynamics in Equilibrium Models, edition 127, chapter 0, pages 51-73, Springer.
    21. Bewley, Truman, 1982. "An integration of equilibrium theory and turnpike theory," Journal of Mathematical Economics, Elsevier, vol. 10(2-3), pages 233-267, September.
    22. Montrucchio, Luigi, 1995. "A turnpike theorem for continuous-time optimal-control models," Journal of Economic Dynamics and Control, Elsevier, vol. 19(3), pages 599-619, April.
    23. Sorger, Gerhard, 1992. "On the minimum rate of impatience for complicated optimal growth paths," Journal of Economic Theory, Elsevier, vol. 56(1), pages 160-179, February.
    24. Tyrrell Rockafellar, R., 1976. "Saddle points of Hamiltonian systems in convex Lagrange problems having a nonzero discount rate," Journal of Economic Theory, Elsevier, vol. 12(1), pages 71-113, February.
    25. Jean-Philippe Vial, 1983. "Strong and Weak Convexity of Sets and Functions," Mathematics of Operations Research, INFORMS, vol. 8(2), pages 231-259, May.
    26. Michel, Philippe, 1982. "On the Transversality Condition in Infinite Horizon Optimal Problems," Econometrica, Econometric Society, vol. 50(4), pages 975-985, July.
    27. Benhabib, Jess & Rustichini, Aldo, 1990. "Equilibrium cycling with small discounting," Journal of Economic Theory, Elsevier, vol. 52(2), pages 423-432, December.
    28. VIAL, Jean-Philippe, 1983. "Strong and weak convexity of sets and functions," LIDAM Reprints CORE 529, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    29. Nishimura, Kiyohiko Giichi, 1981. "On uniqueness of a steady state and convergence of optimal paths in multisector models of optimal growth with a discount rate," Journal of Economic Theory, Elsevier, vol. 24(2), pages 157-167, April.
    30. Nishimura, Kiyohiko G., 1983. "A new concept of stability and dynamical economic systems," Journal of Economic Dynamics and Control, Elsevier, vol. 6(1), pages 25-40, September.
    31. Jess Benhabib & Kazuo Nishimura, 2012. "Competitive Equilibrium Cycles," Springer Books, in: John Stachurski & Alain Venditti & Makoto Yano (ed.), Nonlinear Dynamics in Equilibrium Models, edition 127, chapter 0, pages 75-96, Springer.
    32. Truman Bewley, 2010. "An Integration of Equilibrium Theory and Turnpike Theory," Levine's Working Paper Archive 1381, David K. Levine.
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    Citations

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    Cited by:

    1. Maćkowiak, Piotr, 2009. "Adaptive Rolling Plans Are Good," MPRA Paper 42043, University Library of Munich, Germany.
    2. Bosi, Stefano & Magris, Francesco & Venditti, Alain, 2005. "Competitive equilibrium cycles with endogenous labor," Journal of Mathematical Economics, Elsevier, vol. 41(3), pages 325-349, April.
    3. Venditti Alain, 2019. "Competitive equilibrium cycles for small discounting in discrete-time two-sector optimal growth models," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 23(4), pages 1-14, September.
    4. Alain Venditti, 2012. "Weak concavity properties of indirect utility functions in multisector optimal growth models," International Journal of Economic Theory, The International Society for Economic Theory, vol. 8(1), pages 13-26, March.
    5. Cuong Le Van & Lisa Morhaim, 2006. "On optimal growth models when the discount factor is near 1 or equal to 1," Post-Print halshs-00096034, HAL.
    6. Drugeon, Jean-Pierre & Venditti, Alain, 2001. "Intersectoral external effects, multiplicities & indeterminacies," Journal of Economic Dynamics and Control, Elsevier, vol. 25(5), pages 765-787, May.
    7. Maldonado, Wilfredo L. & Svaiter, B.F., 2007. "Holder continuity of the policy function approximation in the value function approximation," Journal of Mathematical Economics, Elsevier, vol. 43(5), pages 629-639, June.
    8. Cuong Le Van & Lisa Morhaim, 2006. "On optimal growth models when the discount factor is near 1 or equal to 1," International Journal of Economic Theory, The International Society for Economic Theory, vol. 2(1), pages 55-76, March.

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    Keywords

    UTILITY FUNCTION; CONSUMPTION;

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