An alternative neo-classical growth model with closed-form decision rules

An alternative neo-classical growth model with closed-form decision rules

A version of a representative agent model is constructed in which closed-form decision rules are produced for rather general production technologies. Agents trade in capital, and the decision rules can be used to characterize the volume of this trade.

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Bibliographische Detailangaben
Veröffentlicht in:Economics letters 1993, Vol.42 (1), p.59-63
1. Verfasser: Huffman, Gregory W.
Format: Artikel
Sprache:eng
Schlagworte:
Decision theory
Growth models
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Beschreibung
Zusammenfassung:A version of a representative agent model is constructed in which closed-form decision rules are produced for rather general production technologies. Agents trade in capital, and the decision rules can be used to characterize the volume of this trade.
ISSN:0165-1765
1873-7374
DOI:10.1016/0165-1765(93)90173-A