On Lipschitz Continuity of Policy Functions in Continuous-Time Optimal Growth Models

This paper proves the C1,1 differentiability of the value function for continuous time concave dynamic optimization problems, under the assumption that the instantaneous utility is C1,1 and the initial segment of optimal solutions is interior. From this result, the Lipschitz dependence of optimal solutions on initial data and the Lipschitz continuity of the policy function are derived, by adding an assumption of strong concavity of the integrand

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Year of publication:	1999
Authors:	Gota, Maria Luisa ; Montrucchio, Luigi
Publisher:	[S.l.] : SSRN
Subject:	Wachstumstheorie \| Growth theory \| Optimales Wachstum \| Optimal growth \| Dynamische Optimierung \| Dynamic programming
Description of contents:	Abstract [papers.ssrn.com]

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Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Economic Theory, Vol. 14, Iss. 2, August 1999 Volltext nicht verfügbar
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; O41 - One, Two, and Multisector Growth Models
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014184255