A COMPLETE CAPITAL MODEL INVOLVING HETEROGENEOUS CAPITAL GOODS.
The article provides the logical structure to economist Frank Ramsey's capital model involving capital goods to test the consistency of their literary theorizing about capital. Long ago Ramsey gave a complete capital model involving a single homogeneous capital good. By this model economists could t...
| Publicado en: | Quarterly Journal of Economics Vol. 70; no. 4; pp. 537 - 563 |
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| Autores principales: | , |
| Formato: | Artículo |
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Oxford University Press / USA
Nov56
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=7703137&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 7703137 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00335533 QJE jtl: Quarterly Journal of Economics issn: 00335533 maglogo: N pubinfo: dt: Nov56 vid: 70 iid: 4 pid: 622 pub: Oxford University Press / USA artinfo: ui: 7703137 10.2307/1881864 ppf: 537 ppct: 26 formats: tig: atl: A COMPLETE CAPITAL MODEL INVOLVING HETEROGENEOUS CAPITAL GOODS. aug: au: Samuelson, Paul A. Solow, Robert M. affil: Massachusetts Institute of Tchnology su: Ramsey, Frank Economists Industrial equipment Differential equations Integer programming Hamiltonian systems sug: subj: Ramsey, Frank Economists Industrial equipment Differential equations Integer programming Hamiltonian systems ab: The article provides the logical structure to economist Frank Ramsey's capital model involving capital goods to test the consistency of their literary theorizing about capital. Long ago Ramsey gave a complete capital model involving a single homogeneous capital good. By this model economists could test the consistency of their literary theorizing about capital, and could establish important propositions. The article therefore generalizes the Ramsey capital model to any number of capital goods. The resulting mathematical problem turns out to have some intrinsically intricate transversally or end conditions that will probably be of importance in many dynamic programming problems. The generalized Ramsey problem is now solved. The solution is quite straightforward, even though tedious because of the need to integrate the Euler differential equations. The article reviews some of the fashionable Hamiltonian formalisms that are often used in the physics and mathematics literature to describe variational problems. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1956 holdings: @attributes: islocal: N |
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