Chichilnisky, Graciela and Kalman, P. J. (1979): Application of functional analysis to models of efficient allocation of economic resources. Published in: Journal of Optimization Theory and Applications , Vol. 30, No. No. 1 (January 1980): pp. 1932.

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Abstract
The present paper studies existence and characterization of efficient paths in infinitehorizon economic growth models: the method used is based on techniques of nonlinear functional analysis on Hilbert spaces developed earlier by Chichilnisky. Necessary and sufficient conditions are given for the existence of positive competitive price systems in which the efficient programs maximize present value and intertemporal profit. Approximation of these competitive price systems by strictly positive ones with similar properties is studied. A complete characterization is also given f a class of welfare functions (nonlinear operators defined on consumption paths) for continuity in a weighted L2norm.
Item Type:  MPRA Paper 

Original Title:  Application of functional analysis to models of efficient allocation of economic resources 
Language:  English 
Keywords:  Hilbert spaces; existence theorems; functional analysis; applied mathematics 
Subjects:  D  Microeconomics > D6  Welfare Economics > D61  Allocative Efficiency ; CostBenefit Analysis C  Mathematical and Quantitative Methods > C6  Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C62  Existence and Stability Conditions of Equilibrium 
Item ID:  8004 
Depositing User:  Graciela Chichilnisky 
Date Deposited:  31 Mar 2008 05:39 
Last Modified:  27 Sep 2019 05:34 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/8004 