An Experimental Test of an Optimal Growth Model

V. Lei and Charles Noussair

Purdue University Economics Working Papers from Purdue University, Department of Economics

Abstract: This paper describes the behavior of an experimental economy with the structure of the Ramsey-Cass-Koopmans model of optimal growth. In the model, the level of consumption and capital stock converge to an optimal steady state level, regardless of the level of initial endowment. The main question considered in this study is whether such the level of initial endowment.

Keywords: ECONOMIC GROWTH; ECONOMIC MODELS (search for similar items in EconPapers)
JEL-codes: O40 O41 (search for similar items in EconPapers)
Pages: 41 pages
Date: 2000-03
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Journal Article: An Experimental Test of an Optimal Growth Model (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:pur:prukra:1131

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