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
β¦ LIBER β¦
On income fluctuations and capital gains with a convex production function A note
β Scribed by Santanu Roy
- Publisher
- Elsevier Science
- Year
- 1994
- Tongue
- English
- Weight
- 196 KB
- Volume
- 18
- Category
- Article
- ISSN
- 0165-1889
No coin nor oath required. For personal study only.
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