Optimal consumption in a stochastic Ramsey model with Cobb-Douglas production function

A stochastic Ramsey model is studied with the Cobb-Douglas production function maximizing the expected discounted utility of consumption.We transformed the Hamilton-Jacobi-Bellman (HJB) equation associated with the stochastic Ramsey model so as to transform the dimension of the state space by changi...

Full description

Saved in:
Bibliographic Details
Main Authors: Baten, Md Azizul, Kamil, Anton Abdulbasah
Format: Article
Language:English
Published: Hindawi Publishing Corporation 2013
Subjects:
Online Access:http://repo.uum.edu.my/10617/1/68.pdf
http://repo.uum.edu.my/10617/
http://dx.doi.org/10.1155/2013/684757
Tags: Add Tag
No Tags, Be the first to tag this record!
Institution: Universiti Utara Malaysia
Language: English

Similar Items