Summary
This paper describes the relationship between the model's growth rate, the set of vectors of equilibrium growth and the set of internal rates of return of the investment matrix. This matrix specifies the renewable and reproducible scale-neutral investment possibilities. An explicit description of quasioptimal strategies and turnpikes is given.
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I would like to thank Vitaly Belenki, Victor Polterovich, Ernst Presman, Michael Chwe and Dale Mortensen for their helpful comments and also to the latter two for their help in translating part of this paper. I am grateful for Northwestern University's sponsoring of the scientific exchange between Central Economics Mathematics Institute (Moscow) and NU, which gave me and other scientists from Russia the possibility to discuss topics of common interest with American colleges. I am grateful also to the anonymous referee for his thorough and valuable remarks.
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Sonin, I.M. Growth rate, internal rates of return and turnpikes in an investment model. Econ Theory 5, 383–400 (1995). https://doi.org/10.1007/BF01212325
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DOI: https://doi.org/10.1007/BF01212325