Accession Number : AD0721269

Title :   A Twisted Turnpike,

Corporate Author : RAND CORP SANTA MONICA CALIF

Personal Author(s) : Keeler,E. B.

Report Date : NOV 1970

Pagination or Media Count : 18

Abstract : In a closed linear model of production, a path of maximal balanced growth is called a Neumann ray. Past turnpike theorems have shown that in such a model long efficient paths of capital accumulation remain near a Neumann ray most of the time. Because they assert convergence over long periods of time, it is important to see how much the results depend on the assumption of fixed production possibilities. The paper used McKenzie's version of the Morishima no-joint-production turnpike theorem to see how much of the theory can be retained if the production possibilities vary with time. (Author)

Descriptors :   (*OPERATIONS RESEARCH, PRODUCTION CONTROL), TRANSFORMATIONS(MATHEMATICS), SET THEORY, MATRICES(MATHEMATICS), CONVERGENCE, MATHEMATICAL MODELS, THEOREMS

Subject Categories : Operations Research

Distribution Statement : APPROVED FOR PUBLIC RELEASE