Despite ‘joy of giving models’ have been extensively examined in the literature, the Ramsey growth model has never been explored under the assumption of a direct preference for bequeathing savings that are reinvested. This assumption implies a Utility function depending on both consumption...

Unexpectedly, and as a result of a simple exercise of intellectual curiosity, the resolution of the Ramsey growth problem with a Utility function underlying relative preferences for consumption and savings, provides remarkable results and interpretations. An advanced microeconomic analysis of...

Unexpectedly, and as a result of a simple exercise of intellectual curiosity, the resolution of the Ramsey growth problem with a Utility function underlying relative preferences for consumption and savings, happens to provide remarkable results and interpretations. An advanced microeconomic...

Surprisingly, and as a result of intellectual curiosity, the resolution of the Ramsey growth problem with a Utility function describing relative preferences for consumption and savings, happens to provide formidable results. An advanced microeconomic analysis of this particular assumption which...

Despite ‘joy of giving models’ have been extensively examined in the literature, the Ramsey growth model has never been explored under the assumption of a direct preference for bequeathing savings that are reinvested. This assumption implies a Utility function depending on both consumption...

We propose an evolutionary equation and develop an asymptotic theory that generalize results obtained in Polterovich, Khenkin, 1988. It is shown that, as a result of interaction between innovation and imitation, the shape of the efficiency distribution curve of technologies eventually...

The paper is devoted to investigation of a number of difference-differential equations, among them the following one plays the central role: dFn/dt=φ(Fn)(Fn-1 - Fn) (*) where, for every t, {Fn(t), n = 0, 1, 2, ...} is a probability distribution function, and φ is a positive function on [0, 1]....

This paper studies the evolution of the distribution of firms in the ferrous metals industry by efficiency levels. The proposed model takes into account interaction of processes of creation and adoption of technologies and depreciation of assets. It is shown that the model approximates real data...

We propose a difference-differential equation that reflects interactions between innovation and imitation processes to describe the evolution of the distribution curve of firms by efficiency levels. An explicit solution of this equation is obtained for arbitrary finite initial conditions. It is...

This paper shows that the standard optimal growth model can be solved explicitly by using a utility function describing preferences for consumption and savings. Such a maximising criterion including the flow of savings can actually be strongly motivated by two arguments. First, the basic...