Emil Panek
ARTICLE

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ABSTRACT

This article, in reference to Panek (2013a) presents proof of the “strong” turnpike theorem in the non-stationary Gale economy with changeable technology convergent to some limit technology. In the proof of the theorem assumption, that production processes efficiency in the economy is the lower the more the investment/input structure in such processes differs the optimum, play significant roles.
The paper is part of trend of few works of mathematical economics containing proofs of the turnpike theorems in the non-stationary dynamic Neumann-Gale economic models.

KEYWORDS

non-stationary Gale-type economy with limit technology, von Neumann prices, production turnpike

REFERENCES

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