Optimal economic growth with recursive preferences: decreasing rate of time preference
In the field of optimal growth theory, since Ramsey's time it is frequent to maximize a welfare function consisting of the discounted sum of instantaneous utilities, with a constant rate of time preferencie. Such an optimality criterion implies that preferences are independent over time. <i&...
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| Tipo de recurso: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 1999 |
| País: | Argentina |
| Institución: | Universidad Nacional de La Plata |
| Repositorio: | SEDICI (UNLP) |
| Idioma: | inglés |
| OAI Identifier: | oai:sedici.unlp.edu.ar:10915/9105 |
| Acceso en línea: | http://sedici.unlp.edu.ar/handle/10915/9105 |
| Access Level: | acceso abierto |
| Palabra clave: | Ciencias Económicas niveles óptimos de producción economía crecimiento económico |
| Sumario: | In the field of optimal growth theory, since Ramsey's time it is frequent to maximize a welfare function consisting of the discounted sum of instantaneous utilities, with a constant rate of time preferencie. Such an optimality criterion implies that preferences are independent over time. <i>(Párrafo extraído del texto a modo de resumen)</i> |
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