Turnpike Theory for the Robinson–Solow–Srinivasan Model
Author:   Alexander J. Zaslavski
Publisher:   Springer Nature Switzerland AG
Edition:   1st ed. 2020
Volume:   166
ISBN:  

9783030603090


Pages:   442
Publication Date:   06 January 2022
Format:   Paperback
Availability:   Manufactured on demand   Availability explained
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Turnpike Theory for the Robinson–Solow–Srinivasan Model


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Overview

This book is devoted to the study of a class of optimal control problems arising in mathematical economics, related to the Robinson–Solow–Srinivasan (RSS) model. It will be useful for researches interested in the turnpike theory, infinite horizon optimal control and their applications, and mathematical economists. The RSS is a well-known model of economic dynamics that was introduced in the 1960s and as many other models of economic dynamics, the RSS model is determined by an objective function (a utility function) and a set-valued mapping (a technology map). The set-valued map generates a dynamical system whose trajectories are under consideration and the objective function determines an optimality criterion. The goal is to find optimal trajectories of the dynamical system, using the optimality criterion.   Chapter 1 discusses turnpike properties for some classes of discrete time optimal control problems.  Chapter 2 present the description of the RSS model and discuss its basic properties. Infinite horizon optimal control problems, related to the RSS model are studied in Chapter 3. Turnpike properties for the RSS model are analyzed in Chapter 4. Chapter 5 studies infinite horizon optimal control problems related to the RSS model with a nonconcave utility function. Chapter 6 focuses on infinite horizon optimal control problems with nonautonomous optimality criterions. Chapter 7 contains turnpike results for a class of discrete-time optimal control problems. Chapter 8 discusses the RSS model and compares different optimality criterions. Chapter 9 is devoted to the study of the turnpike properties for the RSS model. In Chapter 10   the one-dimensional autonomous RSS model is considered  and the continuous time RSS model is studied in Chapter 11.

Full Product Details

Author:   Alexander J. Zaslavski
Publisher:   Springer Nature Switzerland AG
Imprint:   Springer Nature Switzerland AG
Edition:   1st ed. 2020
Volume:   166
Weight:   0.688kg
ISBN:  

9783030603090


ISBN 10:   3030603091
Pages:   442
Publication Date:   06 January 2022
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Manufactured on demand   Availability explained
We will order this item for you from a manufactured on demand supplier.

Table of Contents

1. Introduction.- 2 The RSS model and its basic properties.- 3. Infinite horizon optimization. 4. Turnpike results for the RSS model.- 5.The RSS model with a nonconcave utility function. - 6.Infinite horizon nonautonomous optimization problems.- 7. One-dimensional RSS model.- 8. Optimal Programs.- 9. Turnpike for the RSS model with nonconcave utility functions. 10. An autonomous one-dimensional model.- 11. The continuous-time Robinson–Solow–Srinivasan model.- References.- Index.

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Author Information

​Alexander J. Zaslavski is professor in the Department of Mathematics, Technion-Israel Institute of Technology, Haifa, Israel.​

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