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Localization of the indicator optimal exponent of the Ramsey–Kass–Koopmans problem tending to infinity of the power utility function
A. I. Kozkoabc, L. M. Luzhinacb, A. Yu. Popovbc, V. G. Chirskiicb a Moscow center of fundamental and applied mathematics (Moscow)
b Russian Presidential
Academy of National Economy and Public Administration (Moscow)
c Lomonosov Moscow State University (Moscow)
Abstract:
The full utility of economic activity is investigated in article. In the case of the Cobb-Douglass production function and the economic resource $K(t)=K_0e^{-\lambda t}$, it is proved that the exponent of $\lambda$ that delivers the maximum of total utility is in a certain interval.
Keywords:
mathematical model, Ramsey–Kass–Koopmans problem, competitive households, maximizing total utility.
Citation:
A. I. Kozko, L. M. Luzhina, A. Yu. Popov, V. G. Chirskii, “Localization of the indicator optimal exponent of the Ramsey–Kass–Koopmans problem tending to infinity of the power utility function”, Chebyshevskii Sb., 22:2 (2021), 121–134
Linking options:
https://www.mathnet.ru/eng/cheb1026 https://www.mathnet.ru/eng/cheb/v22/i2/p121
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Abstract page: | 123 | Full-text PDF : | 26 | References: | 23 |
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