On the non-existence of optimal programs in the Robinson-Solow-Srinivasan (RSS) model

We show that in the 2-sector RSS model, there is no optimal program for any initial stock when the felicity function is linear and the marginal rate [xi] equals unity. This settles a conjecture, unresolved since 2005.

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Year of publication:	2010
Authors:	Khan, M. Ali ; Piazza, Adriana
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 109.2010, 2, p. 94-98
Publisher:	Elsevier
Keywords:	RSS model Optimal programs Brock prices Minimum value-loss programs Cesaro means convergence

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

Persistent link: https://www.econbiz.de/10008866846