Envelope theorem in dynamic economic models with recursive utility
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DOI: 10.1016/j.econlet.2017.11.018
Abstract: This paper investigates the first-order differentiability properties of the value function in dynamic economic models with recursive preferences where the optimal policy may lie at the boundary of the feasible set under several regular assumptions… read more here.
Keywords: models recursive; economic models; envelope theorem; theorem dynamic ... See more keywords