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JOURNALS // Chebyshevskii Sbornik // Archive

Chebyshevskii Sb., 2021 Volume 22, Issue 2, Pages 121–134 (Mi cheb1026)

Localization of the indicator optimal exponent of the Ramsey–Kass–Koopmans problem tending to infinity of the power utility function

A. I. Kozkoabc, L. M. Luzhinacb, A. Yu. Popovbc, V. G. Chirskiicb

a Moscow center of fundamental and applied mathematics (Moscow)
b Russian Presidential Academy of National Economy and Public Administration (Moscow)
c Lomonosov Moscow State University (Moscow)

Abstract: The full utility of economic activity is investigated in article. In the case of the Cobb-Douglass production function and the economic resource $K(t)=K_0e^{-\lambda t}$, it is proved that the exponent of $\lambda$ that delivers the maximum of total utility is in a certain interval.

Keywords: mathematical model, Ramsey–Kass–Koopmans problem, competitive households, maximizing total utility.

UDC: 518.865

DOI: 10.22405/2226-8383-2018-22-2-121-134



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