Nerlove–Arrow: A New Solution to an Old Problem
Sign Up to like & getrecommendations! Published in 2017 at "Journal of Optimization Theory and Applications"
DOI: 10.1007/s10957-016-1033-8
Abstract: We use the optimality principle of dynamic programming to formulate a discrete version of the original Nerlove–Arrow maximization problem. When the payoff function is concave, we give a simple recursive process that yields an explicit… read more here.
Keywords: nerlove arrow; solution old; new solution; arrow new ... See more keywords