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Capital Gains and Income Arising from Nonrenewable Resources

✍ Scribed by Taoyuan Wei

Book ID
113064615
Publisher
Springer
Year
2011
Tongue
English
Weight
151 KB
Volume
52
Category
Article
ISSN
0924-6460

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This work considers a one-good economy. The production function is random and not necessarily concave; the interest factor is variable and the consumer must maximize asymptotically the expected accumulated and discounted utility. One proves that the value function is concave and the limit policy is