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Existence of optimal strategies in linear multisector models with several consumption goods

Freni, Giuseppe and Gozzi, Fausto and Salvadori, Neri (2010): Existence of optimal strategies in linear multisector models with several consumption goods.

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Abstract

In this paper we give a sufficient and almost necessary condition for the existence of optimal strategies in linear multisector models when time is continuous and the the instantaneous utility function of the representative agent has two properties: (a) the intertemporal elasticity of substitution is constant over time and (b) preferences are concave and homothetic.

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