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- W2072425186 abstract "In this paper we examine a continuous-time infinite-horizon economic growth model with non-convexities. First we show that an optimal program exists and the value of the problem can be obtained as the limit of the values of the finite-horizon approximations. If we are only interested in the existence part, then we show that the hypotheses can be weakened substantially to incorporate economically significant cases. Finally we obtain a transversality condition for optimality that does not involve dual variables (prices)." @default.
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- W2072425186 date "1996-04-01" @default.
- W2072425186 modified "2023-09-27" @default.
- W2072425186 title "Infinite-horizon continuous-time growth models" @default.
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- W2072425186 doi "https://doi.org/10.1080/00207729608929227" @default.
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