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An Optimal Control Problem Related to the RSS Model

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  • Alexander J. Zaslavski

    (Department of Mathematics, Technion–Israel Institute of Technology, Haifa 32000, Israel)

Abstract

In this paper, we consider a discrete-time optimal control problem related to the model of Robinson, Solow and Srinivasan. We analyze this optimal control problem without concavity assumptions on a non-concave utility function which represents the preferences of the planner and establish the existence of good programs and optimal programs which are Stiglitz production programs.

Suggested Citation

  • Alexander J. Zaslavski, 2023. "An Optimal Control Problem Related to the RSS Model," Mathematics, MDPI, vol. 11(17), pages 1-14, September.
    • Handle: RePEc:gam:jmathe:v:11:y:2023:i:17:p:3762-:d:1230943
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    References listed on IDEAS

    as
    1. Robert M. Solow, 1962. "Substitution and Fixed Proportions in the Theory of Capital," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 29(3), pages 207-218.
    2. M. Ali Khan & Tapan Mitra, 2005. "On choice of technique in the Robinson–Solow–Srinivasan model," International Journal of Economic Theory, The International Society for Economic Theory, vol. 1(2), pages 83-110, June.
    3. Stiglitz, Joseph E, 1970. "Reply to Mrs. Robinson on the Choice of Technique," Economic Journal, Royal Economic Society, vol. 80(318), pages 420-422, June.
    4. N. Hritonenko & Yu. Yatsenko, 2005. "Turnpike and Optimal Trajectories in Integral Dynamic Models with Endogenous Delay," Journal of Optimization Theory and Applications, Springer, vol. 127(1), pages 109-127, October.
    5. Tomás Prieto-Rumeau & Onésimo Hernández-Lerma, 2005. "Bias and overtaking equilibria for zero-sum continuous-time Markov games," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 61(3), pages 437-454, July.
    6. Robinson, Joan, 1969. "A Model for Accumulation Proposed by J. E. Stiglitz," Economic Journal, Royal Economic Society, vol. 79(314), pages 412-413, June.
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