Show simple item record

Transversality conditions in optimum growth models with or without discounting

dc.creatorDasgupta, Swapan
dc.date2016-05-04
dc.date.accessioned2019-04-02T13:59:24Z
dc.date.available2019-04-02T13:59:24Z
dc.identifierhttps://estudiosdeeconomia.uchile.cl/index.php/EDE/article/view/40806
dc.identifier.urihttp://revistaschilenas.uchile.cl/handle/2250/3005
dc.descriptionIn the literature on price characterization of optimal paths in stationary models of optimal growth, distinct “transversality conditions” have been pr esented, depending on whether or not utilities are discounted. In the discounted case, this condition takes the form that asymptotically the presente-value prices converge to zero. In the undiscounted case, however, it is of the form that the present value prices are bounded above along the path. It is shown here that under assumptions that are fairly standard in such problems, this difference is superfluous and the same transversality condition characterizes optimal paths in both the discounted and undiscounted cases.en-US
dc.formattext/html
dc.languageeng
dc.publisherDepartamento de Economía - Facultad de Economía y Negocios, Universidad de Chile.en-US
dc.relationhttps://estudiosdeeconomia.uchile.cl/index.php/EDE/article/view/40806/43761
dc.sourceEstudios de Economía; Vol 21 No 2 (1994): December; pp. 301-311en-US
dc.sourceEstudios de Economía; Vol 21 No 2 (1994): December; pp. 301-311es-ES
dc.source0718-5286
dc.source0304-2758
dc.titleTransversality conditions in optimum growth models with or without discountingen-US
dc.titleTransversality conditions in optimum growth models with or without discountinges-ES
dc.typeinfo:eu-repo/semantics/article
dc.typeinfo:eu-repo/semantics/publishedVersion


This item appears in the following Collection(s)

Show simple item record