In a special case of a model due to Robinson, Solow and Srinivasan, we characterize the optimal policy function (OPF) for undiscounted optimal growth with a strictly concave felicity function. This characterization is based on an equivalence of optimal and minimum value-loss programs that allows...

This paper studies the nature of long-run behavior in a two-sector model of optimal growth. Under some restrictions on the parameters of the model, we provide an explicit solution of the optimal policy function generated by the optimal growth model. Fixing the discount factor, we indicate how...

In this paper, we offer an instance of (topologically) chaotic optimal behavior in a twosector model with irreversible investment, originally formulated by Robinson, Solow and Srinivasan. Our result follows from the theory of turbulence in non-linear dynamical systems, and relies only on the...

We report results on the optimal "choice of technique" in a model originally formulated by Robinson, Solow and Srinivasan. By viewing this model as a specific instance of the general theory of intertemporal resource allocation associated with Brock, Gale and McKenzie, we resolve long-standing...