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From linear to nonlinear utility in vintage capital models

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Hritonenko, Natali [Prairie View A&M University] Yatsenko, Yuri []

Optimization problems with nonlinear utility and endogenous capital lifetime are investigated in one- and two-sector modifications of the Solow vintage capital model. Both models have the same balanced growth path in the case of exponential technological change and labour. Turnpike theorems in normal form are proved for the optimal capital lifetime in both models. The differences between the cases of the linear and nonlinear utility are highlighted.

Document type Article de périodique (Journal article)
Access type Accès interdit
Publication date 2008
Language Anglais
Journal information "Mathematical Population Studies" - Vol. 15, no. 4, p. 230-248 (2008)
Peer reviewed yes
Publisher Routledge
issn 0889-8480
e-issn 1547-724X
Publication status Publié
Affiliations Prairie View A&M University - Department of Mathematics
Houston Baptist University - College of Business and Economics
UCL - EUEN/CORE - Center for operations research and econometrics
Keywords Balanced growth path ; Capital lifetime ; Nonlinear utility ; Optimizaiton ; Turnpike theorems ; Vintage capital models
Links
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Bibliographic reference Hritonenko, Natali ; Yatsenko, Yuri. From linear to nonlinear utility in vintage capital models. In: Mathematical Population Studies, Vol. 15, no. 4, p. 230-248 (2008)
Permanent URL http://hdl.handle.net/2078.1/28530