{"title":"The neighbourhood turnpike property for continuous-time optimal growth models","authors":"Luigi Montrucchio","doi":"10.1016/0035-5054(94)90025-6","DOIUrl":null,"url":null,"abstract":"<div><p>In this paper the neighbourhood turnpike theorem is proved for continuous-time optimal growth models with positive discounting. The main assumption to be made is a strong concavity property for the instantaneous utility function, whereas no differentiability assumption is added.</p></div>","PeriodicalId":101136,"journal":{"name":"Ricerche Economiche","volume":"48 3","pages":"Pages 213-224"},"PeriodicalIF":0.0000,"publicationDate":"1994-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/0035-5054(94)90025-6","citationCount":"4","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Ricerche Economiche","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/0035505494900256","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 4
Abstract
In this paper the neighbourhood turnpike theorem is proved for continuous-time optimal growth models with positive discounting. The main assumption to be made is a strong concavity property for the instantaneous utility function, whereas no differentiability assumption is added.
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