An existence result for the control problem associated to an economical growth model

In this paper we consider a version of the Ramsey growth model in finite and continuous time, with the bounded consumption. This model of Ramsey leads to an optimal control problem. We prove an existence theorem of the optimal solution for this optimal control problem.

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Bibliographic Details
Main Authors: Riemschneider, Eduard, Bundău, Olivia, Juratoni, Adina, Pater, Flavius
Format: Conference Proceeding
Language:English
Subjects:
Economic models
Existence theorems
Growth models
Optimal control
Online Access:Get full text
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Description
Summary:In this paper we consider a version of the Ramsey growth model in finite and continuous time, with the bounded consumption. This model of Ramsey leads to an optimal control problem. We prove an existence theorem of the optimal solution for this optimal control problem.
ISSN:0094-243X
1551-7616
DOI:10.1063/1.5114380