We consider a model of capital accumulation and prove the existence of a support price path for the optimal path of capital accumulation. The considered model is a continuous time model of infinite horizon. Our problem is the so-called convex problem of optimal control without differentiability. We adopt the overtaking optimality criterion and prove the existence of a dual price path which supports the value function as well as the Hamiltonian function.
MLA
Takekuma, Shin-Ichi. “A Support Price Theorem for the Continuous Time Model of Capital Accumulation.” Econometrica, vol. 50, .no 2, Econometric Society, 1982, pp. 427-442, https://www.jstor.org/stable/1912636
Chicago
Takekuma, Shin-Ichi. “A Support Price Theorem for the Continuous Time Model of Capital Accumulation.” Econometrica, 50, .no 2, (Econometric Society: 1982), 427-442. https://www.jstor.org/stable/1912636
APA
Takekuma, S.-I. (1982). A Support Price Theorem for the Continuous Time Model of Capital Accumulation. Econometrica, 50(2), 427-442. https://www.jstor.org/stable/1912636
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