Optimal growth models and the Lagrange multiplier

Article Abstract:

The details regarding the subjective conditions on the objective functional and the constraint functions are provided. The Lagrangean to infinite dimensional spaces is extended and sufficient conditions are provided for Lagrangean to be represented by a summable sequence of multipliers in infinite discrete time horizon optimal growth models.

Models, Mathematical optimization, Optimization theory

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A theory of quantifiable beliefs

Article Abstract:

The theory of quantifiable beliefs is developed that includes the state-dependent expected utility model of Karni and Schmeidler and the state-independent non-expected utility model of Machina and Schmeidler, as its special cases. This theory is flexible enough to admit recursivity in the decision making process.

Regulation and Administration of Communications, Electric, Gas, and Other Utilities, Utilities Regulation, Utility regulations

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Rationalizing allocation data-a nonparametric Walrasian theory when prices are absent or non-Walrasian

Article Abstract:

A nonparametric Walrasian theory is developed for the allocation of data. A general framework for deriving conditions on data sets is developed in terms of linear programs that characterize utility-based solution-based solution concepts.

Linear programming, Walrasian model

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