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• W1984498417 abstract "We derive necessary and sufficient conditions for a pair of functions to be the optimal policy function and the optimal value function of a dynamic maximization problem with convex constraints and concave objective functional. It is shown that every Lipschitz continuous function can be the solution of such a problem. If the maintained assumptions include free disposal and monotonicity, then we obtain a complete characterization of all optimal policy and optimal value functions. This is the case, e.g., in the standard aggregative optimal growth model." @default.
• W1984498417 created "2016-06-24" @default.
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• W1984498417 date "1999-03-01" @default.
• W1984498417 modified "2023-10-12" @default.
• W1984498417 title "Rationalizing Policy Functions by Dynamic Optimization" @default.
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• W1984498417 doi "https://doi.org/10.1111/1468-0262.00023" @default.
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