Smoothness of the policy function in continuous-time economic models. The one-dimensional case

Manuel Santos, Jean Luc Vila

Research output: Contribution to journalArticle

6 Citations (Scopus)

Abstract

Infinite-horizon continuous-time optimization is often encountered in economic models. Herein we prove the C1 differentiability of the policy function when the objective is strongly concave and the state is unidimensional.

Original languageEnglish (US)
Pages (from-to)741-753
Number of pages13
JournalJournal of Economic Dynamics and Control
Volume15
Issue number4
DOIs
StatePublished - 1991
Externally publishedYes

Fingerprint

Continuous-time Model
Economic Model
Infinite Horizon
Differentiability
Continuous Time
Smoothness
Economics
Optimization
Policy
Continuous time
Policy function
Infinite horizon

ASJC Scopus subject areas

  • Economics and Econometrics
  • Control and Optimization

Cite this

Smoothness of the policy function in continuous-time economic models. The one-dimensional case. / Santos, Manuel; Vila, Jean Luc.

In: Journal of Economic Dynamics and Control, Vol. 15, No. 4, 1991, p. 741-753.

Research output: Contribution to journalArticle

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