Gale’s Economy Model with Changeable Technology, Increasing Production Efficiency and Particular Form of the Growth Criterion. “Weak” Turnpike Effect

Abstract

In reference to papers Panek (2014a, 2014b) we proved the so called „weak” version of the turnpike theorem in the non-stationary model of economic dynamics of the Gale type with the criterion of maximization of the production value, measured in von Neumann’s prices and with the fi xed economy horizon T = {0,1, ..., t1}. In the proof of the theorem the effi ciency of the economy and its increasing technological effi ciency on the turnpike play both signifi cant roles.