Rolling Plans: Efficiency and Long-Run Optimality

Mukul Majumdar

Chapter 4 in Sustainability and Resources:Theoretical Issues in Dynamic Economics, 2020, pp 79-100 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The following sections are included:IntroductionInfinite ProgramsIntertemporal efficiency and profit maximizationFinite horizon: Conservation of inheritanceRolling PlansMonotone convergence of rolling plansWelfare Properties of Rolling PlansDecentralizationComplements and Details

Keywords: Sustainability; Renewable Resources; Intergenerational Equity; Dynamic Efficiency; Extinction; Complexity; Planning Revision; Long Run Optimality; Non-Convexity; Critical Conservation Stock; Ramsey-Euler Condition; Exhaustible Resources; Optimal Extraction; Technological Choice; Wealth Fund; Water Management; Uncertainty (search for similar items in EconPapers)
JEL-codes: C01 Q01 (search for similar items in EconPapers)
Date: 2020
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