
Accession Number : AD0779871
Title : A Short Proof of Cass' Theorem on Capital Overaccumulation.
Descriptive Note : Research rept.,
Corporate Author : CALIFORNIA UNIV BERKELEY OPERATIONS RESEARCH CENTER
Personal Author(s) : Benveniste,Lawrence ; Gale,David
Report Date : APR 1974
Pagination or Media Count : 15
Abstract : The theorem of the title asserts that under suitable assumptions a program of capital accumulation is inefficient if and only if the corresponding price sequence (p sub t) satisfies the summation from t=0 to infinity of (1/p sub t) < infinity. The authors present a short proof of this fact generalized to the case where the production function may vary from one period to the next. (Author)
Descriptors : *Economics, Mathematical models, Consumption, Accumulation, Theorems
Subject Categories : Economics and Cost Analysis
Operations Research
Distribution Statement : APPROVED FOR PUBLIC RELEASE