Optimal detection of changing properties of random sequences. I. Non-siccessive detection the asymptotic behavior of optimal paths in Gail continuous-time models
Abstract:
A uniform way is proposed for proving the turnpike theorem for ahomogeneous technological model of economic dynamics where Lyapunov functions are used. The results on the asymptotic behavior of finite optimal paths in the case of continuous time are extensions of earlier theorems for discrete-time models. The case of timevarying technological constraints is also studied.