Ebook: Handbook on Optimal Growth 1: Discrete Time

The problem of efficient or optimal allocation of resources is a fundamental concern of economic analysis. The theory of optimal economic growth can be viewed as an aspect of this central theme, which emphasizes in general the issues arising in the allocation of resources over an infinite time horizon, and in particular the consumption-investment decision process in models in which there is no natural "terminal date". This broad scope of "optimal growth theory" is one which has evolved over time, as economists have discovered new interpretations of its central results, as well as new applications of its basic methods.

The Handbook on Optimal Growthprovides surveys of significant results of the theory of optimal growth, as well as the techniques of dynamic optimization theory on which they are based. Armed with the results and methods of this theory, a researcher will be in an advantageous position to apply these versatile methods of analysis to new issues in the area of dynamic economics.

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The problem of efficient or optimal allocation of resources is a fundamental concern of economic analysis. The theory of optimal economic growth can be viewed as an aspect of this central theme, which emphasizes in general the issues arising in the allocation of resources over an infinite time horizon, and in particular the consumption-investment decision process in models in which there is no natural "terminal date". This broad scope of "optimal growth theory" is one which has evolved over time, as economists have discovered new interpretations of its central results, as well as new applications of its basic methods.

The Handbook on Optimal Growthprovides surveys of significant results of the theory of optimal growth, as well as the techniques of dynamic optimization theory on which they are based. Armed with the results and methods of this theory, a researcher will be in an advantageous position to apply these versatile methods of analysis to new issues in the area of dynamic economics. 

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The problem of efficient or optimal allocation of resources is a fundamental concern of economic analysis. The theory of optimal economic growth can be viewed as an aspect of this central theme, which emphasizes in general the issues arising in the allocation of resources over an infinite time horizon, and in particular the consumption-investment decision process in models in which there is no natural "terminal date". This broad scope of "optimal growth theory" is one which has evolved over time, as economists have discovered new interpretations of its central results, as well as new applications of its basic methods.

The Handbook on Optimal Growthprovides surveys of significant results of the theory of optimal growth, as well as the techniques of dynamic optimization theory on which they are based. Armed with the results and methods of this theory, a researcher will be in an advantageous position to apply these versatile methods of analysis to new issues in the area of dynamic economics. 

Content:
Front Matter....Pages I-XIX
Optimal Growth Without Discounting....Pages 1-17
Optimal Growth Models with Discounted Return....Pages 19-54
Duality Theory in Infinite Horizon Optimization Models....Pages 55-84
Rationalizability in Optimal Growth Theory....Pages 85-113
On Stationary Optimal Stocks in Optimal Growth Theory: Existence and Uniqueness Results....Pages 115-140
Optimal Cycles and Chaos....Pages 141-169
Intertemporal Allocation with a Non-convex Technology....Pages 171-201
Isotone Recursive Methods: The Case of Homogeneous Agents....Pages 203-250
Discrete-Time Recursive Utility....Pages 251-272
Indeterminacy in Discrete-Time Infinite-Horizon Models....Pages 273-296
Theory of Stochastic Optimal Economic Growth....Pages 297-335
The von Neumann-Gale Growth Model and Its Stochastic Generalization....Pages 337-383
Equilibrium Dynamics with Many Agents....Pages 385-442
Dynamic Games in Economics....Pages 443-477

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The problem of efficient or optimal allocation of resources is a fundamental concern of economic analysis. The theory of optimal economic growth can be viewed as an aspect of this central theme, which emphasizes in general the issues arising in the allocation of resources over an infinite time horizon, and in particular the consumption-investment decision process in models in which there is no natural "terminal date". This broad scope of "optimal growth theory" is one which has evolved over time, as economists have discovered new interpretations of its central results, as well as new applications of its basic methods.

The Handbook on Optimal Growthprovides surveys of significant results of the theory of optimal growth, as well as the techniques of dynamic optimization theory on which they are based. Armed with the results and methods of this theory, a researcher will be in an advantageous position to apply these versatile methods of analysis to new issues in the area of dynamic economics. 

Content:
Front Matter....Pages I-XIX
Optimal Growth Without Discounting....Pages 1-17
Optimal Growth Models with Discounted Return....Pages 19-54
Duality Theory in Infinite Horizon Optimization Models....Pages 55-84
Rationalizability in Optimal Growth Theory....Pages 85-113
On Stationary Optimal Stocks in Optimal Growth Theory: Existence and Uniqueness Results....Pages 115-140
Optimal Cycles and Chaos....Pages 141-169
Intertemporal Allocation with a Non-convex Technology....Pages 171-201
Isotone Recursive Methods: The Case of Homogeneous Agents....Pages 203-250
Discrete-Time Recursive Utility....Pages 251-272
Indeterminacy in Discrete-Time Infinite-Horizon Models....Pages 273-296
Theory of Stochastic Optimal Economic Growth....Pages 297-335
The von Neumann-Gale Growth Model and Its Stochastic Generalization....Pages 337-383
Equilibrium Dynamics with Many Agents....Pages 385-442
Dynamic Games in Economics....Pages 443-477
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