This paper introduces a method of optimization in infinite-horizon economies based on the theory of correspondences. The proposed approach allow us to study time-separable and non-time-separable dynamic economic models without resorting to fixed point theorems or transversality conditions. When our technique is applied to the standard time-separable model it provides an alternative and straightforward way to derive the common recursive formulation of these models by means of Bellman equations.

A correspondence-theoretic approach to dynamic optimization / Aliprantis, C.D.; Camera, G.*. - In: MACROECONOMIC DYNAMICS. - ISSN 1365-1005. - STAMPA. - 13:SUPPL. S1(2009), pp. 97-117. [10.1017/S1365100509080134]

A correspondence-theoretic approach to dynamic optimization

Camera, G.
2009

Abstract

This paper introduces a method of optimization in infinite-horizon economies based on the theory of correspondences. The proposed approach allow us to study time-separable and non-time-separable dynamic economic models without resorting to fixed point theorems or transversality conditions. When our technique is applied to the standard time-separable model it provides an alternative and straightforward way to derive the common recursive formulation of these models by means of Bellman equations.
2009
A correspondence-theoretic approach to dynamic optimization / Aliprantis, C.D.; Camera, G.*. - In: MACROECONOMIC DYNAMICS. - ISSN 1365-1005. - STAMPA. - 13:SUPPL. S1(2009), pp. 97-117. [10.1017/S1365100509080134]
Aliprantis, C.D.; Camera, G.*
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11585/635717
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