Abstract:
In this paper, we examine the classical (so-called unrealistic) Ramsey–Cass–Koopmans model. For the corresponding differential equation, we apply the method of analytical approximation of its solutions. In subsequent works, we develop this method and apply it to problems in a more general statement.
Keywords:mathematical model, Ramsey–Cass–Koopmans problem, competitive households, maximization of total utility, differential equation, analytical approximation.