Chichilnisky, Graciela (1977): Nonlinear functional analysis and optimal economic growth. Published in: Journal of Mathematical Analysis and Applications , Vol. 61, No. no. 2 (15. November 1977): pp. 504-520.
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A problem of existence and characterization of solutions of optimal growth models in many sector economies is studied The social utility to be optimized is a generalized form of a preference depending additively on consumption at the different dates of the planning period. The optimization b rattrirted to a set of admissible growth paths defined by production-investment-consumption relations described by a system of differential equations. Sufficient conditions are given for existence of a solution in a Hilbert space of paths, without convexity assumptions on either the utilities of the technology, using techniques of nonlinear functional analysis. A characterization is given of the utilities which re continuous with respect to the Hilbert space norm. Under convexity assumptions a characteristic is also given of optimal and efficient solutions by competitive prices.
|Item Type:||MPRA Paper|
|Original Title:||Nonlinear functional analysis and optimal economic growth|
|Keywords:||nonlinear; optimal; growth; growth models; many sector; utility; optimization; growth paths; admissible; Hilbert; intertemporal allocations; policy; welfare; social welfare; competitive; topology; Sobolev; feasible; matrix; consumption; Lemmas;|
|Subjects:||D - Microeconomics > D9 - Intertemporal Choice
C - Mathematical and Quantitative Methods > C0 - General > C02 - Mathematical Methods
|Depositing User:||Graciela Chichilnisky|
|Date Deposited:||30. Mar 2008 04:34|
|Last Modified:||15. Feb 2013 06:27|
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