Download This PaperExistence of Optimal Growth Paths with Endogenous Technology
7 Pages Posted: 9 Apr 2009
Date Written: 1995
Abstract
We prove the existence of an optimal growth path in an economy where goods that are not consumed are either invested in next period capital or in R&D with overall non-convex production possibilities, using results of non-linear functional analysis in weighted L spaces of Chichilnisky (Journal of Optimization Theory and Applications, 1977, 61, No. 2, 504-520) and (Journal of Mathematical Economics, 1981, 8, 1-14).
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