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International Journal of Systems Science Volume 24, 1993 - Issue 7

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Original Articles

Optimal capital accumulation paths for growth models with infinite planning horizon and non-convex technologies

DIMITRIOS KRAWARITIS Department of Mathematics, National Technical University, Zografou Campus, Athens, 15773, Greece

GEORGE PANTELIDES Department of Mathematics, National Technical University, Zografou Campus, Athens, 15773, Greece

NIKOLAOS S. PAPAGEORGIOU Department of Mathematics, National Technical University, Zografou Campus, Athens, 15773, Greece; Department of Applied Mathematics, Florida Institute of Technology, 150 West University Blvd, Melbourne, FL, 32901-6988, U.S.A

Pages 1339-1348 | Received 27 Jan 1992, Published online: 27 Apr 2007

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https://doi.org/10.1080/00207729308949564

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Abstract

An infinite horizon optimal economic growth model with consumption and non-convex technologies is studied. For this model, the existence of an optimal program is established and it is also shown that the system is in asymptotic equilibrium.

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