DOI: 10.3390/math11173762 ISSN:
An Optimal Control Problem Related to the RSS Model
Alexander J. Zaslavski- General Mathematics
- Engineering (miscellaneous)
- Computer Science (miscellaneous)
In this paper, we consider a discrete-time optimal control problem related to the model of Robinson, Solow and Srinivasan. We analyze this optimal control problem without concavity assumptions on a non-concave utility function which represents the preferences of the planner and establish the existence of good programs and optimal programs which are Stiglitz production programs.