This 2012 perspective of the 1987 Palgrave entry on ‘turnpike theory’ highlights the subsequent development of the subject in the light of a critical re-reading of the original. It distinguishes the 1949 conception, a response of Samuelson to a 1945 von Neumann challenge to the...

This account of turnpike theorems concentrates on the discrete time model, descended from the early von Neumann growth model and the Dosso model. It portrays the current state of the theory under the following five headings: (i) a turnpike in the von Neumann model, (ii) a turnpike in the Ramsey...

The paper provides a continuous-time version of the discrete-time Mitra- Wan model of optimal forest management, where trees are harvested to maximize the utility of timber flow over an infinite time horizon. The available trees and the other parameters of the problem vary continuously with...

The paper provides a continuous-time version of the discrete-time Mitra–Wan model of optimal forest management, where trees are harvested to maximize the utility of timber flow over an infinite time horizon. The available trees and the other parameters of the problem vary continuously with...

The paper provides a continuous time version of the well known discrete time Mitra-Wan model of optimal forest management, where a forest is harvested to maximize the utility of timber flow over an infinite time horizon. Besides varying with time, the state variable (describing available trees)...

The paper provides a continuous-time version of the discrete-time Mitra-Wan model of optimal forest management, where trees are harvested to maximize the utility of timber flow over an infinite time horizon. The available trees and the other parameters of the problem vary continuously with...

In a general discrete time model of optimal forest management where land may be diverted to alternative use and stocks of standing trees may yield flow benefits, we investigate the economic and ecological conditions under which optimal paths lead to (total) deforestation i.e., complete long term...

The French Forest Sector Model (FFSM) combines a spatial price equilibrium model à la Samuelson and an imperfect substitution assumption à la Armington for wood products between France and the Rest of the World. This paper aims at proving the existence and the conditions of equilibrium in...

The paper examines the theory of optimal forest management with a view to describing its transition dynamics. In contrast to the literature's emphasis on long-run behavior of optimally managed forests, we focus on the nature of the optimal policy function, which describes the harvesting and...

The paper re-examines the foundations of representation of intertemporal preferences that satisfy intergenerational equity, and provides an axiomatic characterization of those social welfare relations, which are representable by the utilitarian ordering, in ranking consumption sequences which...