A Twisted Turnpike Theorem.

Emmett B. Keeler

Expert InsightsPublished 1970

Weather, conflict, and sectorally uneven technical progress may cause production possibilities to vary with time. This paper generalizes the Morishima 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. 19 pp. Ref.

Document Details

  • Copyright: RAND Corporation
  • Availability: Web Only
  • Year: 1970
  • Pages: 19
  • Document Number: P-4450

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Keeler, Emmett B., A Twisted Turnpike Theorem. Santa Monica, CA: RAND Corporation, 1970. https://www.rand.org/pubs/papers/P4450.html.
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