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arXiv 0803.4050q-fin.GNmath.OC
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有限时间问题解作为无限时间优化问题最优解的极限

Limit of the Solutions for the Finite Horizon Problems as the Optimal Solution to the Infinite Horizon Optimization Problems

Dapeng CAI, Takashi Gyoshin NITTA

摘要:

我们的目标是通过允许效用和生产函数都依赖于时间来推广Cai和Nitta(2007)的结果。我们还考虑了一个额外的跨期最优性标准。我们阐明了在超越准则下,有限时域问题的解的极限在无限时域问题的所有可达路径中是最优的条件,以及在效用和准则下,这种极限是唯一最优的条件.将结果应用于单部门增长模型的参数示例,以检验贴现对最优路径的影响。

英文摘要:

We aim to generalize the results of Cai and Nitta (2007) by allowing both the utility and production function to depend on time. We also consider an additional intertemporal optimality criterion. We clarify the conditions under which the limit of the solutions for the finite horizon problems is optimal among all attainable paths for the infinite horizon problems under the overtaking criterion, as well as the conditions under which such a limit is the unique optimum under the sum-of-utilities criterion. The results are applied to a parametric example of the one-sector growth model to examine the impacts of discounting on optimal paths.

机构、总结、中文摘要均由AI分析而来,可能存在错误,请以论文正文为准。

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