Titlebook: Optimality in Infinite Horizon Economies; Anders Borglin,Hans Keiding Book 1986 Springer-Verlag Berlin Heidelberg 1986 economics.efficienc

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Anders Borglin,Hans Keidinge of wavelet-based numerical methods developed by the author over the years. Even for the necessary basic theory of wavelet in engineering applications, this book is based on the author’s own understanding in p978-981-33-6645-9978-981-33-6643-5Series ISSN 2662-3366 Series E-ISSN 2662-3374

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Book 1986ever. Quite to the contrary, infinity enters in a very natural way when it is taken into account that economic transactions take place over time. 2 In the Arrow-Debreu formalism, time may be incorporated into the model in a very simple way using dated commodities. Thus two commodities are considered

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Constituent

Optimality in Infinite Horizon Economies978-3-662-02478-2Series ISSN 0075-8442 Series E-ISSN 2196-9957

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One-Good Production and Consumption ModelsThe present chapter is an introductory one. We describe the infinite horizon production and consumption models which provide the background for efficiency considerations without fixed horizon. The reader already acquainted with these models may proceed directly to Chapter 2.

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Measures of Curvature and General Efficiency CriteriaIn the previous chapter we obtained a complete characterization of efficient models Σ=(S.). where eacn S. belonged to a small class of well-behaved sets.