Have a personal or library account? Click to login
The minimal-time growth problem and turnpike effect in the stationary Gale economy Cover

The minimal-time growth problem and turnpike effect in the stationary Gale economy

By: Emil Panek  
Open Access
|Apr 2021

References

  1. Babaei, E. (2020). Von Neumann-Gale dynamical systems with applications in economics and finance. Manchester: The University of Manchester.
  2. Babaei, E., Evstigneev, I. V., Schenk-Hoppé, K. R, & Zhitlukhin, M. (2020). Von Neumann-Gale dynamics and capital growth in financial markets with frictions. Mathematics and Financial Economics, 14(2), 283-305.10.1007/s11579-019-00256-8
  3. Dai, D., & Shen, K. (2013). A turnpike theorem involving a modified Golden Rule. Theoretical and Applied Economics, 11(588), 25-40.
  4. Giorgi, G., & Zuccotti, C. (2016). Equilibrium and optimality in Gale-von Neumann models. (DEM Working Papers No. 118, University of Pavia, Department of Economics and Management).
  5. Gurman, V. I., & Gusieva, I. S. (2013). The control system models with the turnpike solutions in the optimal control problems. Program Systems: Theory and Applications, 4(4), 107-125.
  6. Makarov, V. L. & Rubinov, A. M. (1977). Mathematical theory of economic dynamics and equilibria. New York, Heidelberg, Berlin: Springer-Verlag.10.1007/978-1-4612-9886-1
  7. Mammadov, M. A. (2014). Turnpike theorem for a infinite horizon optimal control problem with time delay. SIAM Journal of Control and Optimization, 52(1), 420-438.10.1137/130926808
  8. McKenzie, L. W. (1976). Turnpike theory. Econometrica, 44(5), 841-865.10.2307/1911532
  9. Mitra, T., & Nishimura, K. (2009). Equilibrium, trade and growth. Selected papers of Lionel W. McKenzie. Cambridge, MA: The MIT Press.10.7551/mitpress/7848.001.0001
  10. Nikaido, H. (1968). Convex structures and economic theory. New York: Academy Press.
  11. Panek, E. (2003). Ekonomia matematyczna. Poznań: Wydawnictwo Akademii Ekonomicznej w Poznaniu.
  12. Panek, E. (2014). Model Gale’a ze zmienną technologią, rosnącą efektywnością produkcji i szczególną postacią kryterium wzrostu. „Słaby” efekt magistrali. Przegląd Statystyczny, 61(4), 325-334.10.5604/01.3001.0016.1738
  13. Panek, E. (2015). A turnpike theorem for non-stationary Gale economy with limit technology. A particular case. Economics and Business Review, 1(15), 3-13.10.18559/ebr.2015.4.1
  14. Panek, E. (2019). Non-stationary Gale economy with limit technology. Multilane turn-pike and general form of optimality criterion. Argumenta Oeconomica Cracoviensia, 1(20), 9-22.10.15678/AOC.2019.2001
  15. Panek, E. (2021). Gale economy with investment and limiting technology. Central European Journal of Economic Modelling and Econometrics (in printing).
  16. Radner, R. (1961). Path of economic growth that are optimal with regard to final states: A turnpike theorem. The Review of Economic Studies, 28(2), 98-104.10.2307/2295707
  17. Takayama, A. (1985). Mathematical economics. Cambridge: Cambridge University Press.
  18. Trelat, E., Zhang, C., & Zuazua, E. (2018). Steady-state and periodic exponential turn-pike property for optimal control problems in the Hilbert spaces, SIAM Journal on Control and Optimization, 56(2), 1222-1252.10.1137/16M1097638
  19. Zaslawski, A. J. (2006). Turnpike properties in the calculus of variations and optimal control. New York: Springer.
  20. Zaslawski, A. J. (2015). Turnpike theory and contionuous-time linear optimal control problems. Cham, Heidelberg, New York, Dortrecht, London: Springer.10.1007/978-3-319-19141-6
  21. Zhitlukhin, M. (2019). Supporting prices in a stochastic von Neumann-Gale model of a financial market. Theory of Probability and Its Applications, 64(4), 553-563.10.1137/S0040585X97T989696
DOI: https://doi.org/10.18559/ebr.2021.1.2 | Journal eISSN: 2450-0097 | Journal ISSN: 2392-1641
Language: English
Page range: 7 - 25
Submitted on: Dec 30, 2020
Accepted on: Mar 18, 2021
Published on: Apr 27, 2021
Published by: Poznań University of Economics and Business Press
In partnership with: Paradigm Publishing Services
Publication frequency: 4 issues per year

© 2021 Emil Panek, published by Poznań University of Economics and Business Press
This work is licensed under the Creative Commons Attribution 4.0 License.