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A Twisted Turnpike Theorem

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Contributions to the Von Neumann Growth Model

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Abstract

Weather, conflict, and sectorally uneven technical progress may cause production possibilities to vary with time. This paper generalizes the M o r i s h i m a turnpike theorem to bounded, but not constant, normalized production possibilities. The variation in the set of efficient paths and prices still becomes small for long programs. However, the “turnpike” may be twisted, and also difficult to compute.

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References

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Author information

Authors and Affiliations

  1. The RAND Corporation, 1700 Main Street, Santa Monica, Calif., 90406, USA

    Dr. Emmett B. Keeler

Authors
  1. Dr. Emmett B. Keeler
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Editor information

Editors and Affiliations

  1. Institute for Advanced Studies, University of Vienna, Austria

    Gerhart Bruckmann (Professor, Director) (Professor, Director)

  2. University of Vienna, Austria

    Wilhelm Weber (Professor, Director) (Professor, Director)

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© 1971 Springer-Verlag Wien

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Keeler, E.B. (1971). A Twisted Turnpike Theorem. In: Bruckmann, G., Weber, W. (eds) Contributions to the Von Neumann Growth Model. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-24667-2_9

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  • DOI: https://doi.org/10.1007/978-3-662-24667-2_9

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-662-22738-1

  • Online ISBN: 978-3-662-24667-2

  • eBook Packages: Springer Book Archive

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