Optimal Consumption in a Growth Model with the Cobb--Douglas Production Function
نویسندگان
چکیده
An optimal consumption problem is studied in a growth model for the Cobb-Douglas production function in a finite horizon. The problem is transfered into a stochastic Ramsey problem so as to reduce the dimension of the state space. The corresponding state equation is a stochastic differential ∗The second author is supported in part by a start-up fund at University of Oxford, and RGC Earmarked Grants CUHK418605 and CUHK418606.
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عنوان ژورنال:
- SIAM J. Control and Optimization
دوره 47 شماره
صفحات -
تاریخ انتشار 2008