On existence of optimal programs: The RSS model without concavity assumptions on felicities

In the context of a model due to Robinson, Solow and Srinivasan (the RSS model) with time-dependent felicity functions that are not necessarily concave, we report a theorem on the existence of optimal programs. An extended introduction places our theorem in the context of previous work on the existence question.

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Year of publication:	2009
Authors:	Khan, M. Ali ; Zaslavski, Alexander J.
Published in:	Journal of Mathematical Economics. - Elsevier, ISSN 0304-4068. - Vol. 45.2009, 9-10, p. 624-633
Publisher:	Elsevier
Keywords:	RSS model Optimal program Time-dependence Non-concave felicities Hyperbolic discounting

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008521741