On existence of optimal programs: The RSS model without concavity assumptions on felicities |
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| Authors: | M Ali Khan Alexander J Zaslavski |
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| Institution: | aDepartment of Economics, The Johns Hopkins University, Baltimore, MD 21218, USA;bDepartment of Mathematics, The Technion-Israel Institute of Technology, 32000 Haifa, Israel |
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| Abstract: | In the context of a model due to Robinson, Solow and Srinivasan (the RSS model) with time-dependent felicity functions that are not necessarily concave, we report a theorem on the existence of optimal programs. An extended introduction places our theorem in the context of previous work on the existence question. |
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| Keywords: | RSS model Optimal program Time-dependence Non-concave felicities Hyperbolic discounting |
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