Solving the non-convexity problem in some shopping-time and human-capital models

dc.contributorEscolas::EPGE
dc.contributorFGV
dc.creatorCysne, Rubens Penha
dc.date.accessioned2008-05-13T15:27:43Z
dc.date.accessioned2019-05-22T13:33:37Z
dc.date.available2008-05-13T15:27:43Z
dc.date.available2019-05-22T13:33:37Z
dc.date.created2008-05-13T15:27:43Z
dc.date.issued2004-09-01
dc.identifier0104-8910
dc.identifierhttp://hdl.handle.net/10438/600
dc.identifier.urihttp://repositorioslatinoamericanos.uchile.cl/handle/2250/2683865
dc.description.abstractSeveral works in the shopping-time and in the human-capital literature, due to the nonconcavity of the underlying Hamiltonian, use Örst-order conditions in dynamic optimization to characterize necessity, but not su¢ ciency, in intertemporal problems. In this work I choose one paper in each one of these two areas and show that optimality can be characterized by means of a simple aplication of Arrowís (1968) su¢ ciency theorem.
dc.languageeng
dc.publisherEscola de Pós-Graduação em Economia da FGV
dc.relationEnsaios Econômicos;567
dc.subjectArrow's sufficiency theorem
dc.subjectOptimal control
dc.subjectShopping-time
dc.subjectHuman capital
dc.subjectGrowth
dc.titleSolving the non-convexity problem in some shopping-time and human-capital models
dc.typeDocumentos de trabajo


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