Accession Number:

AD0779871

Title:

A Short Proof of Cass' Theorem on Capital Overaccumulation.

Descriptive Note:

Research rept.,

Corporate Author:

CALIFORNIA UNIV BERKELEY OPERATIONS RESEARCH CENTER

Personal Author(s):

Report Date:

1974-04-01

Pagination or Media Count:

15.0

Abstract:

The theorem of the title asserts that under suitable assumptions a program of capital accumulation is inefficient if and only if the corresponding price sequence p sub t satisfies the summation from t0 to infinity of 1p sub t infinity. The authors present a short proof of this fact generalized to the case where the production function may vary from one period to the next. Author

Subject Categories:

  • Economics and Cost Analysis
  • Operations Research

Distribution Statement:

APPROVED FOR PUBLIC RELEASE