{"title":"二维最优控制模型中周期策略的新途径","authors":"Franz Wirl","doi":"10.1016/0035-5054(94)90005-1","DOIUrl":null,"url":null,"abstract":"<div><p>This paper proposes a new route to rationalize cyclical policies in concave two-state variable, economic control problems. The essential ingredients are: positive growth; a (positive) externality of the stock; and sluggish control, such that actual control is the sum over historical changes. Given these conditions, it is amazingly simple to generate stable limit cycles, even for separable models. A simple renewable resource model is used to verify this claim.</p></div>","PeriodicalId":101136,"journal":{"name":"Ricerche Economiche","volume":"48 2","pages":"Pages 165-173"},"PeriodicalIF":0.0000,"publicationDate":"1994-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/0035-5054(94)90005-1","citationCount":"4","resultStr":"{\"title\":\"A new route to cyclical strategies in two-dimensional optimal control models\",\"authors\":\"Franz Wirl\",\"doi\":\"10.1016/0035-5054(94)90005-1\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>This paper proposes a new route to rationalize cyclical policies in concave two-state variable, economic control problems. The essential ingredients are: positive growth; a (positive) externality of the stock; and sluggish control, such that actual control is the sum over historical changes. Given these conditions, it is amazingly simple to generate stable limit cycles, even for separable models. A simple renewable resource model is used to verify this claim.</p></div>\",\"PeriodicalId\":101136,\"journal\":{\"name\":\"Ricerche Economiche\",\"volume\":\"48 2\",\"pages\":\"Pages 165-173\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"1994-06-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://sci-hub-pdf.com/10.1016/0035-5054(94)90005-1\",\"citationCount\":\"4\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Ricerche Economiche\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/0035505494900051\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Ricerche Economiche","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/0035505494900051","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
A new route to cyclical strategies in two-dimensional optimal control models
This paper proposes a new route to rationalize cyclical policies in concave two-state variable, economic control problems. The essential ingredients are: positive growth; a (positive) externality of the stock; and sluggish control, such that actual control is the sum over historical changes. Given these conditions, it is amazingly simple to generate stable limit cycles, even for separable models. A simple renewable resource model is used to verify this claim.
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