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 language | English (US) |
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Pages (from-to) | 741-753 |
Number of pages | 13 |
Journal | Journal of Economic Dynamics and Control |
Volume | 15 |
Issue number | 4 |
DOIs | |
State | Published - Oct 1991 |
Externally published | Yes |
ASJC Scopus subject areas
- Economics and Econometrics
- Control and Optimization
- Applied Mathematics