| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5099625 | Journal of Economic Dynamics and Control | 2007 | 15 Pages |
Abstract
Dutta [1991. What do discounted optima converge to? A theory of discount rate asymptotics in economic models. Journal of Economic Theory 55, 64-94] showed that long-run optimality of the limit of discounted optima when the discount rate vanishes is implied by a certain bound on the value function of the optimal program. We introduce a new method to verify this bound using coupling techniques.
Keywords
Related Topics
Physical Sciences and Engineering
Mathematics
Control and Optimization
Authors
Kazuo Nishimura, John Stachurski,