Gale Economy with Investments and Limit Technology

• Autorzy: Emil Panek
• Języki publikacji: EN

Abstrakty

EN

In this article we have described a multiproduct model of economical dynamics of Gale type, in which the changes in production technology (the dynamics of Gale type production spaces) depend upon the scale of targeted investments. Under such assumptions we have proved a so-called "weak" version of a multilane turnpike theorem in the Gale type economy with varying technology which converges to a certain limit technology. It states that in the long periods of time, regardless of the initial state of the economy, the optimal growth processes almost always lie close to the family of steady growth paths with maximum growth rate called the multilane turnpike. (original abstract)

Słowa kluczowe

EN

Mathematical economics; Game theory; Production effectiveness

PL

Ekonomia matematyczna; Teoria gier; Efektywność produkcji

• Czasopismo: Central European Journal of Economic Modelling and Econometrics (CEJEME)
• Rocznik: 2022
• Tom: 14
• Numer: nr 1
• Strony: 57--80

Twórcy

autor

Emil Panek

• University of Zielona Góra

Bibliografia

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• [9] Panek E., (2017), "Słaby" efekt magistrali w niestacjonarnej gospodarce Gale'a z graniczną technologią i wielopasmową magistralą produkcyjną, [in:] Matematyka i informatyka na usługach ekonomii, [ed.:] D. Appenzeller, UEP, 94-110.
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• [12] Panek E., (2019b), Non-Stationary Gale Economy with Limit Technology, Multilane Turnpike and General Form of Optimality Criterion, Argumenta Oeconomica Cracoviensia 1(20), 9-22.
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• [14] Panek E., (2020a), A multilane turnpike in a non-stationary input-output economy with a temporary von Neumann equilibrium, Statistical Review 67(1), 77-92.
• [15] Panek E., (2020b), Almost "very strong" multilane turnpike effect in the nonstationary Gale economy with a temporary von Neumann equilibrium and price constraints, Economic and Business Review 6(2), 66-80.
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Identyfikatory

DOI

10.24425/cejeme.2022.140512