We present a substantive and far-reaching generalization of the principal results in the economics of forestry, as formalized by Mitra and Wan (1986). Rather than a polarized dichotomy of linear and strictly concave, differentiable benefit (felicity) functions, we develop the theory in the...

We present a simple and transparent construction that furnishes, for any pre-chosen dynamic, particular instances of the 2-sector version of the Robinson–Solow–Srinivasan model that yield the chosen dynamic, including optimal topologically chaotic programs and those that exhibit cycles of...

Classical turnpike theory, as originally conceived by Samuelson, pertains to optimal growth theory over a large but finite time horizon with given initial and terminal stocks. In this paper, we present two turnpike results in the context of the economics of forestry with given initial and...