Set Valued Dynamical Systems and Economic Theory |
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accumulation actions adaptive agent allow analysis approach assumed assumption assures asymptotically ex attraction attractor Banach space barter behavior called capital capital/labor ratio chapter closed compact compact set constraints consumption contained continuous convergence correspondence defined DEFINITION demand determined difference distribution dynamic dynamical system economic elements environment environmental equation equilibrium ex ante optimal ex post example exists feasible Figure flow given global holds implies initial invariant Liapunov function limit Malthusian manner maximizes metric models monotonicity motion myopic necessary Neoclassical optimal trajectory optimum Pareto optimal path period positive possible problem production PROOF properties PROPOSITION prove region respect restricted result selection sequence set valued single valued solution solves space stable strong strongly subsets Suppose SVSS theorem theory tion topology trajectory ultimately unique utility function weak weakly