Strong concavity properties of indirect utility functions in multisector optimal growth models
成果类型：
Article; Proceedings Paper
署名作者：
Venditti, A
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1006/jeth.1996.2267
发表日期：
1997
页码：
349-367
关键词：
摘要：
Studies of optimal growth in a multisector framework are generally addressed in reduced form models, defined by an indirect utility function which summarizes the consumer's preferences and the technologies. Strong concavity assumptions allow to obtain some results about differentiability of optimal solutions and stability of steady states. However there does not exist any information about the conditions that have to be placed on the fundamentals to obtain such a property. This paper shows that if the consumption good production function is x-concave and if the capital goods technologies are Lipschitz-continuous then the indirect utility function is strongly concave. (C) 1997 Academic Press.