Abstract
In this paper we obtain results on the good choice of techniques in the long-run in the model proposed by Robinson, Solow and Srinivasan. We study this model with a nonconcave utility function which represents the preferences of the planner and establish some properties of locally maximal programs. We obtain a useful estimation for consumption over good locally maximal programs and show that a limit of good locally optimal programs is also a good locally maximal program.
Received: July 30, 2008
Revised: May 29, 2009
JEL classification: D90, C61
Mathematics Subject Classification (2000): 49J99, 54E52
∗The author thanks the referee for useful comments.
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Zaslavski, A.J. (2010). Good locally maximal programs for the Robinson–Solow–Srinivasan model. In: Kusuoka, S., Maruyama, T. (eds) Advances in Mathematical Economics. Advances in Mathematical Economics, vol 13. Springer, Tokyo. https://doi.org/10.1007/978-4-431-99490-9_7
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