A TWISTED TURNPIKE THEOREM,
Abstract
Weather, conflict, and sectorally uneven technical progress may cause production possibilities to vary with time. This paper generalizes the Morishima turnpike theorem to bounded, but not constant, normalized production possibilities. The variation in the set of efficient paths and prices still becomes small for long programs. However, the 'turnpike' may be twisted, and also difficult to compute. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Sep 01, 1970
- Accession Number
- AD0712696
Entities
People
- Emmett B. Keeler
Organizations
- RAND Corporation