Support prices for weakly maximal programs of a growth model with uncertainty

Nikolaos S. Papageorgiou

Commentationes Mathematicae Universitatis Carolinae (1994)

  • Volume: 35, Issue: 3, page 581-595
  • ISSN: 0010-2628

Abstract

top
We consider an infinite dimensional, nonstationary growth model with uncertainty. Using techniques from functional analysis and the subdifferentiation theory of concave functions, we establish the existence of a supporting price system for a weakly maximal program.

How to cite

top

Papageorgiou, Nikolaos S.. "Support prices for weakly maximal programs of a growth model with uncertainty." Commentationes Mathematicae Universitatis Carolinae 35.3 (1994): 581-595. <http://eudml.org/doc/247594>.

@article{Papageorgiou1994,
abstract = {We consider an infinite dimensional, nonstationary growth model with uncertainty. Using techniques from functional analysis and the subdifferentiation theory of concave functions, we establish the existence of a supporting price system for a weakly maximal program.},
author = {Papageorgiou, Nikolaos S.},
journal = {Commentationes Mathematicae Universitatis Carolinae},
keywords = {weakly maximal program; support prices; utility function; value function; Yosida-Hewitt decomposition; concave subdifferential; concave subdifferential; infinite-dimensional, nonstationary growth model; uncertainty; subdifferentiation; supporting price system; weakly maximal program},
language = {eng},
number = {3},
pages = {581-595},
publisher = {Charles University in Prague, Faculty of Mathematics and Physics},
title = {Support prices for weakly maximal programs of a growth model with uncertainty},
url = {http://eudml.org/doc/247594},
volume = {35},
year = {1994},
}

TY - JOUR
AU - Papageorgiou, Nikolaos S.
TI - Support prices for weakly maximal programs of a growth model with uncertainty
JO - Commentationes Mathematicae Universitatis Carolinae
PY - 1994
PB - Charles University in Prague, Faculty of Mathematics and Physics
VL - 35
IS - 3
SP - 581
EP - 595
AB - We consider an infinite dimensional, nonstationary growth model with uncertainty. Using techniques from functional analysis and the subdifferentiation theory of concave functions, we establish the existence of a supporting price system for a weakly maximal program.
LA - eng
KW - weakly maximal program; support prices; utility function; value function; Yosida-Hewitt decomposition; concave subdifferential; concave subdifferential; infinite-dimensional, nonstationary growth model; uncertainty; subdifferentiation; supporting price system; weakly maximal program
UR - http://eudml.org/doc/247594
ER -

References

top
  1. Aliprantis C., Brown D., Burkinshaw O., Existence and Optimality of Competitive Equilibria, Springer, Berlin, 1988. Zbl0676.90001MR1075992
  2. Brock W., On existence of weakly maximal programmes in a multisector economy, Review of Economic Studies 37 (1970), 275-280. (1970) 
  3. Dana R.-A., Evaluation of development programs in a stationary economy with bounded primary resources, in Proceedings of the Warsaw Symposium on Mathematical Methods in Economics, ed. J. Lös, North-Holland, Amsterdam, 1973, pp. 179-205. MR0434339
  4. Diestel J., Uhl J., Vector Measures, Math. Surveys, Vol. 15, AMS, Providence, RI, 1977. Zbl0521.46035MR0453964
  5. Ioffe A., Tichomirov V., Theory of extremal Problems, North Holland, Amsterdam, 1979. MR0528295
  6. Jeanjean P., Optimal development programs under production uncertainty: The undiscounted case, J. Economic Theory 7 (1974), 66-92. (1974) MR0459534
  7. Levin V., The Lebesgue decomposition for functionals on the vector function space L ∞ ( X ) , Functional Analysis and Appl. 8 (1974), 314-317. (1974) MR0370174
  8. Pantelides G., Papageorgiou N.S., Weakly maximal stationary programs for a discrete-time, stochastic growth model, Japan Jour. Indust. Appl. Math. 10 (1993), 471-486. (1993) Zbl0820.90022MR1247878
  9. Radner R., Optimal stationary consumption with stochastic production and resources, J. Economic Theory 6 (1973), 68-90. (1973) MR0452560
  10. Rockafellar R.T., Conjugate Duality and Optimization, Regional Conference Series in Appl. Math., Vol. 16, SIAM, Philadelphia, 1973. Zbl0296.90036MR0373611
  11. Takayama A., Mathematical Economics, Cambridge University Press, Cambridge, 1985. Zbl0568.90001MR0832684
  12. Takekuma S.-I., A support price theorem for the continuous time model of capital accumulation, Econometrica 50 (1982), 427-442. (1982) Zbl0474.90012MR0662288
  13. Wilansky A., Modern Methods in Topological Vector Spaces, McGraw-Hill, New York, 1978. Zbl0395.46001MR0518316
  14. Yosida K., Hewitt E., Finitely additive measures, Trans. Amer. Math. Soc. 72 (1952), 45-66. (1952) Zbl0046.05401MR0045194
  15. Zilha I., Characterization by prices of optimal programs under uncertainty, J. Math. Economics 3 (1976), 173-183. (1976) MR0421618

NotesEmbed ?

top

You must be logged in to post comments.

To embed these notes on your page include the following JavaScript code on your page where you want the notes to appear.

Only the controls for the widget will be shown in your chosen language. Notes will be shown in their authored language.

Tells the widget how many notes to show per page. You can cycle through additional notes using the next and previous controls.

    
                

                
Note: Best practice suggests putting the JavaScript code just before the closing </body> tag.