The existence of a unique optimum, a unique optimal stationary program, and a turnpike theorem are demonstrated for a neoclassical one sector optimal growth model. The planner's allocation problem is formulated as a discrete time deterministic, infinite horizon programming model. The production...

We reconsider the theory of Thompson aggregators proposed by Marinacci and Montrucchio (2010). We demonstrate the Koopmans equation has a unique utility function solution given a Thompson aggregator. Uniqueness holds only on the interior of the commodity space's positive cone. We verify Du's...

Thompson aggregators generate recursive utility functions as solutions to Koopmans' functional equation. Multiple solutions may occur when the underlying commodity space is the positive cone of the space of bounded real-valued consumption sequences. Consider the case of extremal solutions:...

A Linear Pricing Rule is established for the No Strong Arbitrage Principle (NSAP) in a finite state, single period asset pricing model. The (NSAP) condition is a statement about the inconsistency of a particular system of linear inequalities. The novelty here lies in the use of the...