IDEAS home Printed from https://ideas.repec.org/a/aea/aecrev/v67y1977i3p261-74.html
   My bibliography  Save this article

Concepts of Optimality and Their Uses

Author

Listed:
  • Koopmans, Tjalling C

Abstract

Lecture to the memory of Alfred Nobel, December 11, 1975
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Koopmans, Tjalling C, 1977. "Concepts of Optimality and Their Uses," American Economic Review, American Economic Association, vol. 67(3), pages 261-274, June.
    • Handle: RePEc:aea:aecrev:v:67:y:1977:i:3:p:261-74
    as

    Download full text from publisher

    File URL: http://links.jstor.org/sici?sici=0002-8282%28197706%2967%3A3%3C261%3ACOOATU%3E2.0.CO%3B2-Z&origin=repec
    File Function: full text
    Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Peter A. Diamond & Tjalling C. Koopmans & Richard E. Williamson, 1962. "Stationary Utility and Time Preference," Cowles Foundation Discussion Papers 142, Cowles Foundation for Research in Economics, Yale University.
    2. E. Malinvaud, 1967. "Decentralized Procedures for Planning," International Economic Association Series, in: E. Malinvaud & M. O. L. Bacharach (ed.), Activity Analysis in the Theory of Growth and Planning, chapter 0, pages 170-208, Palgrave Macmillan.
    3. Richard Beals & Tjalling C. Koopmans, 1967. "Maximizing Stationary Utility in a Constant Technology," Cowles Foundation Discussion Papers 229, Cowles Foundation for Research in Economics, Yale University.
    4. David Cass, 1964. "Optimum Economic Growth in an Aggregative Model of Capital Accumulation: A Turnpike Theorem," Cowles Foundation Discussion Papers 178, Cowles Foundation for Research in Economics, Yale University.
    5. Tjalling C. Koopmans, 1967. "Intertemporal Distribution and 'Optimal' Aggregate Economic Growth," Cowles Foundation Discussion Papers 228, Cowles Foundation for Research in Economics, Yale University.
    6. Tjalling C. Koopmans, 1959. "Stationary Ordinal Utility and Impatience," Cowles Foundation Discussion Papers 81, Cowles Foundation for Research in Economics, Yale University.
    7. A. P. Lerner, 1938. "Theory and Practice in Socialist Economics," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 6(1), pages 71-75.
    8. P. Massé & R. Gibrat, 1957. "Application of Linear Programming to Investments in the Electric Power Industry," Management Science, INFORMS, vol. 3(2), pages 149-166, January.
    9. P. S. Dasgupta, 1969. "On the Concept of Optimum Population," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 36(3), pages 295-318.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Polterovich, V., 2012. "Kantorovich's Theory of Optimal Resource Allocation Within the History of Economic Thought," Journal of the New Economic Association, New Economic Association, vol. 13(1), pages 176-180.
    2. John C. V. Pezzey & John M. Anderies, 2000. "Some Further Economics of Easter Island: Adding Subsistence and Resource Conservation," Working Papers in Ecological Economics 0002, Australian National University, Centre for Resource and Environmental Studies, Ecological Economics Program.
    3. Horsley, Anthony & Wrobel, Andrew J., 2007. "Profit-maximizing operation and valuation of hydroelectric plant: A new solution to the Koopmans problem," Journal of Economic Dynamics and Control, Elsevier, vol. 31(3), pages 938-970, March.
    4. Dmitry B. Rokhlin, 2011. "On the game interpretation of a shadow price process in utility maximization problems under transaction costs," Papers 1112.2406, arXiv.org, revised Dec 2011.
    5. Vouvaki, Dimitra & Xepapadeas, Anastasios, 2008. "Changes in social welfare and sustainability: Theoretical issues and empirical evidence," Ecological Economics, Elsevier, vol. 67(3), pages 473-484, October.
    6. Matheus Assaf, 2017. "Coast to Coast: How MIT's students linked the Solow model and optimal growth theory," Working Papers, Department of Economics 2017_20, University of São Paulo (FEA-USP).
    7. Sidney G. Winter, 2002. "Toward an Evolutionary Theory of Production," LEM Papers Series 2002/27, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    8. Shubik Martin, 2019. "Accounting and its Relationship to General Equilibrium Theory," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 9(3), pages 1-11, December.
    9. Martin Shubik, 2010. "Innovation and Equilibrium?," Chapters, in: Dimitri B. Papadimitriou & L. Randall Wray (ed.), The Elgar Companion to Hyman Minsky, chapter 8, Edward Elgar Publishing.
    10. Dmitry Rokhlin, 2013. "On the game interpretation of a shadow price process in utility maximization problems under transaction costs," Finance and Stochastics, Springer, vol. 17(4), pages 819-838, October.
    11. Marc Nerlove & Assaf Razin & Efraim Sadka, 1986. "Tamaño de Población Socialmente Óptimo," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 23(68), pages 3-24.
    12. Philippe Michel & Pierre Pestieau, 1993. "Croissance optimale avec population fluctuante," Revue Économique, Programme National Persée, vol. 44(3), pages 615-624.
    13. Shubik, Martin & Sudderth, William D., 2015. "From General Equilibrium to Schumpeter," Journal of Economic Dynamics and Control, Elsevier, vol. 61(C), pages 269-282.
    14. Pezzey, John C. V. & Anderies, John M., 2003. "The effect of subsistence on collapse and institutional adaptation in population-resource societies," Journal of Development Economics, Elsevier, vol. 72(1), pages 299-320, October.
    15. Shubik, Martin, 1990. "A game theoretic approach to the theory of money and financial institutions," Handbook of Monetary Economics, in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 1, chapter 5, pages 171-219, Elsevier.
    16. Chatterjee A K & Mukherjee, Saral, 2006. "Unified Concept of Bottleneck," IIMA Working Papers WP2006-05-01, Indian Institute of Management Ahmedabad, Research and Publication Department.
    17. Anand, Sudhir & Sen, Amartya, 2000. "Human Development and Economic Sustainability," World Development, Elsevier, vol. 28(12), pages 2029-2049, December.
    18. Pakandam, Barzin, 2009. "Why Easter Island collapsed: an answer for an enduring question," Economic History Working Papers 27864, London School of Economics and Political Science, Department of Economic History.
    19. Mukherjee, Saral & Chatterjee, A.K., 2006. "The average shadow price for MILPs with integral resource availability and its relationship to the marginal unit shadow price," European Journal of Operational Research, Elsevier, vol. 169(1), pages 53-64, February.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Tjalling C. Koopmans, 1966. "Structure of Preference over Time," Cowles Foundation Discussion Papers 206R, Cowles Foundation for Research in Economics, Yale University.
    2. Tapan Mitra & Kazuo Nishimura, 2012. "Intertemporal Complementarity and Optimality: A Study of a Two-Dimensional Dynamical System," Springer Books, in: John Stachurski & Alain Venditti & Makoto Yano (ed.), Nonlinear Dynamics in Equilibrium Models, edition 127, chapter 0, pages 195-233, Springer.
    3. Truchon, Michel, 1988. "Programmation mathématique et théorie économique," L'Actualité Economique, Société Canadienne de Science Economique, vol. 64(2), pages 143-156, juin.
    4. Jean-Paul Chavas, 2004. "On Impatience, Economic Growth and the Environmental Kuznets Curve: A Dynamic Analysis of Resource Management," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 28(2), pages 123-152, June.
    5. Marc Nerlove & Assaf Razin & Efraim Sadka, 1986. "Tamaño de Población Socialmente Óptimo," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 23(68), pages 3-24.
    6. McKenzie, L., 1999. "The First Conferences on the Theory of Economic Growth," RCER Working Papers 459, University of Rochester - Center for Economic Research (RCER).
    7. Asheim, Geir B. & Mitra, Tapan, 2010. "Sustainability and discounted utilitarianism in models of economic growth," Mathematical Social Sciences, Elsevier, vol. 59(2), pages 148-169, March.
    8. Basu, Kaushik & Mitra, Tapan, 2007. "Utilitarianism for infinite utility streams: A new welfare criterion and its axiomatic characterization," Journal of Economic Theory, Elsevier, vol. 133(1), pages 350-373, March.
    9. Meixing Dai, 2007. "Endogenous Wealth-Depending Time Preference and Fiscal Policy in Open Economy," Economics Bulletin, AccessEcon, vol. 8(7), pages 1-7.
    10. John Creedy & Ross Guest, 2007. "Discounting and the Time Preference Rate: An Introduction," Department of Economics - Working Papers Series 993, The University of Melbourne.
    11. Mitra, Tapan, 2004. "Intergenerational Equity and the Forest Management Problem," Working Papers 04-17, Cornell University, Center for Analytic Economics.
    12. Alvaro Rodriguez, 1990. "Maximin growth paths with recursive preferences: A complete characterization," Journal of Economics, Springer, vol. 52(3), pages 233-251, October.
    13. Richard Beals & Tjalling C. Koopmans, 1967. "Maximizing Stationary Utility in a Constant Technology," Cowles Foundation Discussion Papers 229, Cowles Foundation for Research in Economics, Yale University.
    14. Manel Baucells & Rakesh Sarin, 2007. "Evaluating Time Streams of Income: Discounting What?," Theory and Decision, Springer, vol. 63(2), pages 95-120, September.
    15. Ana M. Guerrero & Carmen Herrero Blanco, 1999. "-Time Preference And Individual Health Profiles," Working Papers. Serie AD 1999-20, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    16. Partha Dasgupta, 2009. "The Welfare Economic Theory of Green National Accounts," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 42(1), pages 3-38, January.
    17. Kareen Rozen, 2010. "Foundations of Intrinsic Habit Formation," Econometrica, Econometric Society, vol. 78(4), pages 1341-1373, July.
    18. Asheim, Geir B. & d'Aspremont, Claude & Banerjee, Kuntal, 2010. "Generalized time-invariant overtaking," Journal of Mathematical Economics, Elsevier, vol. 46(4), pages 519-533, July.
    19. Stefania Albanesi & Claudia Olivetti, 2006. "Gender roles and technological progress," 2006 Meeting Papers 411, Society for Economic Dynamics.
    20. Bjarne S. Jensen, 2004. "Pareto Efficiency, Relative Prices, and Solutions to CGE Models," DEGIT Conference Papers c009_006, DEGIT, Dynamics, Economic Growth, and International Trade.

    More about this item

    JEL classification:

    • D00 - Microeconomics - - General - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aea:aecrev:v:67:y:1977:i:3:p:261-74. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Michael P. Albert (email available below). General contact details of provider: https://edirc.repec.org/data/aeaaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.