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...

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...

Linking the statistic and the machine learning literature, we provide new general results on the convergence of stochastic approximation schemes and inexact Newton methods. Building on these results, we put forward a new optimization scheme that we call generalized inexact Newton method (GINM)....

Linking the statistic and the machine learning literature, we provide new general results on the convergence of stochastic approximation schemes and inexact Newton methods. Building on these results, we put forward a new optimization scheme that we call generalized inexact Newton method (GINM)....