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Correction to "On Optimal Development in a Multi-Sector Economy"

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  • D. Gale

Abstract

Mr D. Nachane has pointed out to me that the proof of Theorem 6 of [1] is not correct as it stands. There should be absolute value signs around each of the three equal quantities on the left-hand side of inequality 7.8. The rest of the proof should then read: Since λ < 1 the terms | ut | are dominated by the terms of a convergent geometric series; hence the seriesconverges, since it converges absolutely, so in particular the partial sumsare bounded below, as was to be proved.

Suggested Citation

  • D. Gale, 1971. "Correction to "On Optimal Development in a Multi-Sector Economy"," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 38(3), pages 384-384.
    • Handle: RePEc:oup:restud:v:38:y:1971:i:3:p:384.
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    File URL: http://hdl.handle.net/10.2307/2296392
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    Cited by:

    1. Matheus Assaf & Pedro Garcia Duarte, 2018. "Utility Matters: Edmond Malinvaud and growth theory in the 1950s and 1960s," Working Papers, Department of Economics 2018_03, University of São Paulo (FEA-USP).

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