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A new class of problems in the calculus of variations

hal.structure.identifierCEntre de REcherches en MAthématiques de la DEcision [CEREMADE]
dc.contributor.authorEkeland, Ivar*
hal.structure.identifier
dc.contributor.authorLong, Yiming*
hal.structure.identifier
dc.contributor.authorZhou, Qinglong*
dc.date.accessioned2018-05-25T08:59:41Z
dc.date.available2018-05-25T08:59:41Z
dc.date.issued2013
dc.identifier.issn1560-3547
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/17783
dc.language.isoenen
dc.subjectOptimal growth modelen
dc.subjecttime inconsistencyen
dc.subjectintergenerational justiceen
dc.subject.ddc510en
dc.titleA new class of problems in the calculus of variationsen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenWe revisit the neo-classical model of optimal growth by introducing an additional term, due to Chichilnisky, which embodies society's concern for the long-term welfare of future generations. We show that the additional term causes time inconsistency, so there is no such thing as an optimal solution. However, we introduce a notion of equilibrium solution and we prove that there is a continuum of such solutionsen
dc.relation.isversionofjnlnameRegular and Chaotic Dynamics
dc.relation.isversionofjnlvol18en
dc.relation.isversionofjnlissue6en
dc.relation.isversionofjnldate2013-11
dc.relation.isversionofjnlpages553-584en
dc.relation.isversionofdoi10.1134/S1560354713060014en
dc.relation.isversionofjnlpublisherSpringeren
dc.subject.ddclabelMathématiquesen
dc.relation.forthcomingnonen
dc.relation.forthcomingprintnonen
dc.description.ssrncandidatenonen
dc.description.halcandidatenonen
dc.description.readershiprechercheen
dc.description.audienceInternationalen
dc.relation.Isversionofjnlpeerreviewedouien
dc.relation.Isversionofjnlpeerreviewedouien
dc.date.updated2018-05-25T08:51:17Z
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