One Refinement of the Simplest Growth Model Full article
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International Asian School-Seminar Optimization Problems of Complex Systems 13-17 Sep 2021 , Москва |
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| Source | 17th International Asian School-Seminar "Optimization Problems of Complex Systems (OPCS),13-17 Sept. 2021 Compilation, 2021. 151 c. |
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| Output data | Year: 2021, Pages: 9-12 Pages count : 4 DOI: 10.1109/OPCS53376.2021.9588768 | ||
| Tags | consumption; CW(τ)-rational strategy; economic growth; expended effort; investment; standards of living; subsistence levels; wealth growth | ||
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Abstract:
The object of research is the dynamics models of the functioning of the economic entities, namely a household, company, region or country as whole. The development strategies of the subject are studied, which are called rational if the subject's welfare exceeds a given level during each interval of the considered period. The new approach is proposed to take into account two additional conditions for the functioning of the economy: the requirement of continuous maintenance of the level of well-being and the minimization of efforts for this purpose. Earlier, based on the Solow equation and the new approach, the models were built that combines both discrete and continuous specifics for finding rational strategies. In this article, we studies a simplified version of these models and a simplified version Ramsey-Kass-Koopmans model for comparing strategies which are obtained using these models. The criteria for comparison are integral indicator of welfare and integral indicator of expended effort. © 2021 IEEE
Cite:
Antsyz S.M.
One Refinement of the Simplest Growth Model
In compilation 17th International Asian School-Seminar "Optimization Problems of Complex Systems (OPCS),13-17 Sept. 2021. 2021. – C.9-12. DOI: 10.1109/OPCS53376.2021.9588768 Scopus OpenAlex
One Refinement of the Simplest Growth Model
In compilation 17th International Asian School-Seminar "Optimization Problems of Complex Systems (OPCS),13-17 Sept. 2021. 2021. – C.9-12. DOI: 10.1109/OPCS53376.2021.9588768 Scopus OpenAlex
Identifiers:
| Scopus: | 2-s2.0-85126946141 |
| OpenAlex: | W3208939802 |
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