"Very Strong" Turnpike Effect in a Non-Stationary Gale Economy with Investments, Multilane Turnpike and Limit Technology

• Autorzy: Emil Panek
• Języki publikacji: EN

Abstrakty

EN

This article presents a multiproduct model of a non-stationary Gale-type economy with technology convergent to a certain limit technology, in which changes in the production technology (the dynamics of the Gale production spaces) are ruled by the size of investments. Thus, the considered model differs from the vast majority of the Gale-type models considered in the mathematical economy. With this assumption, the so-called "very strong" version of the multilane production turnpike theorem in the Gale economy with investments is proved. According to the theorem, if the optimal growth process in such an economy reaches the multilane turnpike, it remains on it from then on, except for, possibly the last period of the analysed economic horizon. (original abstract)

Słowa kluczowe

EN

Mathematical economics; Production effectiveness; Mathematical economic models

PL

Ekonomia matematyczna; Efektywność produkcji; Matematyczne modele ekonomiczne

• Czasopismo: Economics and Business Review
• Rocznik: 2023
• Tom: 9 (23)
• Numer: nr 4
• Strony: 5--24

Twórcy

autor

Emil Panek

• University of Zielona Góra

Bibliografia

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Identyfikatory

DOI

https://doi.org/10.18559/ebr.2023.4.891