2000 | OriginalPaper | Buchkapitel
Periodic and Chaotic Programs of Optimal Intertemporal Allocation in an Aggregative Model with Wealth Effects
verfasst von : Mukul Majumdar, Tapan Mitra
Erschienen in: Optimization and Chaos
Verlag: Springer Berlin Heidelberg
Enthalten in: Professional Book Archive
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In this chapter, we examine a discrete-time aggregative model of discounted dynamic optimization where the felicity function depends on both consumption and capital stock. The need for studying such a model has been stressed in the theory of optimal growth and also in the economics of natural resources.