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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...
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We reconsider the theory of Thompson aggregators proposed by Marinacci and Montrucchio. First, we prove a variant of their Recovery Theorem estabilishing the existence of extremal solutions to the Koopmans equation. Our approach applies the constructive Tarski-Kantorovich Fixed Point Theorem...
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We reconsider the theory of Thompson aggregators proposed by Mari-nacci and Montrucchio. We demonstrate the Koopmans equation has a unique utility function solution given a Thompson aggregator. Uniqueness holds only on the interior of the commodity spaces positive cone.Our proof veries the...
Persistent link: https://www.econbiz.de/10012912132
We reconsider the theory of Thompson aggregators proposed by Marinacci and Montrucchio. We prove a variant of their Recovery Theorem establishing the existence of extremal solutions to the Koopmans equation. We apply the constructive Tarski-Kantorovich Fixed Point Theorem rather than the...
Persistent link: https://www.econbiz.de/10014112223
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...
Persistent link: https://www.econbiz.de/10014348847