Abstract
We prove a uniform neighborhood turnpike theorem for a family of optimal growth problems arising from a family of felicity functions. Then, assuming stronger hypothesis, we prove a uniform turnpike theorem. Finally, in view of the natural connections between both theorems and the role played by discounting in permitting erratic behavior, some dynamic implications are discussed. © 2000 Elsevier Science S.A.
Original language | English |
---|---|
Pages (from-to) | 329-357 |
Journal | Journal of Mathematical Economics |
Volume | 34 |
Issue number | 3 |
DOIs | |
Publication status | Published - 1 Jan 2000 |
Keywords
- C61
- Complicated dynamics
- E32
- Felicity functions
- O41
- Optimal growth problems
- Turnpike theorems