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Global analysis and indeterminacy in a two-sector growth model with human capital
Antoci, Angelo; Galeotti, Marcello; Russu, Paolo - Volkswirtschaftliche Fakultät, … - 2012
The purpose of the present paper is to highlight some features of global dynamics of the two-sector growth model with accumulation of human and physical capital analyzed by Brito, P. and Venditti, A. (2010). In particular, we explore two cases where the Brito-Venditti system admits two balanced...
Persistent link: https://www.econbiz.de/10011113576
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Allais-anonymity as an alternative to the discounted-sum criterion in the calculus of optimal growth I: Consensual optimality
Mabrouk, Mohamed - Volkswirtschaftliche Fakultät, … - 2006
technical change, without resorting to the discounted-sum criterion. The solution suggested is to consider an optimality … criterion expressing an Allais-anonymous intergenerational consensus. The partial characterization of consensual optimality was … is a necessary condition for consensual optimality. The necessary study of the Pareto-optimality of the consensual …
Persistent link: https://www.econbiz.de/10005789826
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Allais-anonymity as an alternative to the discounted-sum criterion in the calculus of optimal growth II: Pareto optimality and some economic interpretations
Mabrouk, Mohamed - Volkswirtschaftliche Fakultät, … - 2006
This paper studies the Pareto-optimality of the consensual optimum established in "Allais-anonymity as an alternative … to the discounted-sum criterion I: consensual optimality" (Mabrouk 2006a). For that, a Pareto-optimality criterion is set …-optimal. Through an example, it is then shown that the golden rule must be checked to achieve Allais-anonymous optimality. The …
Persistent link: https://www.econbiz.de/10005025714
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A note on the sub-optimality of rank ordering of objects on the basis of the leading principal component factor scores
Mishra, SK - Volkswirtschaftliche Fakultät, … - 2008
This paper demonstrates that if we intend to optimally rank order n objects (candidates) each of which has m attributes or rank scores awarded by m evaluators, then the ordinal ranking of objects by the conventional principal component based factor scores turns out to be suboptimal. Three...
Persistent link: https://www.econbiz.de/10005836683
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Ein allgemeines Dekompositionsverfahren fuer lineare Optimierungsprobleme
Heinemann, Hergen H. - Volkswirtschaftliche Fakultät, … - 1971
Optimality and Finality Advantageous for very large problems with a rather small percentage of real variables in the optimal …
Persistent link: https://www.econbiz.de/10008855812
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Housing Dynamics: Theory Behind Empirics
Wang, Ping; Xie, Danyang - Volkswirtschaftliche Fakultät, … - 2014
We construct a dynamic general equilibrium model of housing, incorporating some key features that bridge time and space. We model explicitly the evolution of housing structures/household durables and the separate role played by land, fully accounting for households’ locational choice...
Persistent link: https://www.econbiz.de/10011112410
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El turismo como motor de crecimiento económico: impacto de las preferencias intertemporales de los agentes
Brida, Juan Gabriel; London, Silvia; Rojas, Mara - Volkswirtschaftliche Fakultät, … - 2012
This paper studies the relationships between tourism and economic growth through a dynamic model showing how the time preference affect the investment in a economic sector based on natural resources as tourism. Assuming extreme values, it is possible to verify that a high time preference or...
Persistent link: https://www.econbiz.de/10009647251
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Occupational Choice and Dynamic Indeterminacy
Mino, Kazuo; Koji, Shimomura; Wang, Ping - Volkswirtschaftliche Fakultät, … - 2003
This paper construct a two-sector model of two-period lived overlapping generations with endogenous occupational choice where ability-heterogeneous agents choose whether to become educated when young and henceforth to become skilled when old. We show that endogenous occupational choice in this...
Persistent link: https://www.econbiz.de/10005109566
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On Variable Discounting in Dynamic Programming: Applications to Resource Extraction and Other Economic Models
Jaśkiewicz, Anna; Matkowski, Janusz; Nowak, Andrzej S. - Volkswirtschaftliche Fakultät, … - 2011
This paper generalizes the classical discounted utility model introduced by Samuelson by replacing a constant discount rate with a function. The existence of recursive utilities and their constructions are based on Matkowski's extension of the Banach Contraction Principle. The derived utilities...
Persistent link: https://www.econbiz.de/10009025315
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Persistently optimal policies in stochastic dynamic programming with generalized discounting
Jaśkiewicz, Anna; Matkowski, Janusz; Nowak, Andrzej S. - Volkswirtschaftliche Fakultät, … - 2011
In this paper we study a Markov decision process with a non-linear discount function. Our approach is in spirit of the von Neumann-Morgenstern concept and is based on the notion of expectation. First, we define a utility on the space of trajectories of the process in the finite and infinite time...
Persistent link: https://www.econbiz.de/10009147690