This paper considers a one-sector economic growth model with several infinitely-lived heterogeneous households, who differ both in the discount factors as well as preferences over consumption. Unlike the extreme form of borrowing constraint observed in the classical Ramsey model, recently...

In this paper we show that if a strongly monotone inter-temporal order exhibits no preference towards the advancement of timing of future utility on any infinite utility stream, then the existence of such an order must involve some non-constructive device.

We study order theoretic and topological implications for impatience of weakly Paretian, representable orders on infinite utility streams. As a departure from the traditional literature, we do not make any continuity assumptions in proving the existence of impatient points. Impatience is robust...

The paper examines the problem of explicit description of a social welfare order over infinite utility streams, which respects anonymity and weak Pareto axioms. It provides a complete characterization of the domains of one period utilities, for which it is possible to explicitly describe a weak...

This paper provides qualitative properties of the iterated function system (IFS) generated by the optimal policy function for a class of stochastic one-sector optimal growth models. We obtain, explicitly in terms of the primitives of the model (i) a compact interval (not including the zero...