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Journal of Mathematical Economics
Article . 1991 . Peer-reviewed
License: Elsevier TDM
Data sources: Crossref
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Optimal growth and Pareto optimality

Authors: Dana Rose-anne; Le Van Cuong;

Optimal growth and Pareto optimality

Abstract

Abstract The purpose of this paper is to show that in a stationary intertemporal economy where agents have recursive utilities every Pareto optimum is a solution of a generalized McKenzie problem. An ‘abstract’ state space is introduced as the space of couples of capital stock and utilities that can be reached by n −1 agents from that capital stock. ‘Generalized technological’ conditions are then defined on that abstract space as well as a recursive criterion on sequences of its elements. The criterion generalizes the additively separable one. As Bellman's and Euler's equations still hold, many dynamical results known for the additively separable one-agent case can be generalized.

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    citations
    This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    12
    popularity
    This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
    Average
    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    Top 10%
    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
    Average
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citations
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
12
Average
Top 10%
Average
bronze