The paper deals with infinite horizon optimization problems. The existence of optimal solutions is obtained as a consequence of an asymptotic growth condition. We also construct finite horizon approximates that yield upper and lower bounds for the optimal values and whose optimal solutions converge to the long-term optimal trajectories. One type of approximate results from a process which involves smoothening the tail of any trajectory. The other type emerges when we restrain ourselves to stay put after a finite lapse of time.
MLA
Wets, Roger J-B. J-B., and Sjur D. Flam. “Existence Results and Finite Horizon Approximates for Infinite Horizon Optimization Problems.” Econometrica, vol. 55, .no 5, Econometric Society, 1987, pp. 1187-1209, https://www.jstor.org/stable/1911267
Chicago
Wets, Roger J-B. J-B., and Sjur D. Flam. “Existence Results and Finite Horizon Approximates for Infinite Horizon Optimization Problems.” Econometrica, 55, .no 5, (Econometric Society: 1987), 1187-1209. https://www.jstor.org/stable/1911267
APA
Wets, R. J.-B. J.-B., & Flam, S. D. (1987). Existence Results and Finite Horizon Approximates for Infinite Horizon Optimization Problems. Econometrica, 55(5), 1187-1209. https://www.jstor.org/stable/1911267
The Executive Committee of the Econometric Society has approved an increase in the submission fees for papers in Econometrica. Starting January 1, 2025, the fee for new submissions to Econometrica will be US$125 for regular members and US$50 for student members.
By clicking the "Accept" button or continuing to browse our site, you agree to first-party and session-only cookies being stored on your device. Cookies are used to optimize your experience and anonymously analyze website performance and traffic.