{"product_id":"capital-theory-equilibrum-analysis-and-recursive-utility-hardback-9781557864130","title":"Capital Theory Equilibrum Analysis and Recursive Utility (Hardback) 9781557864130","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eCapital Theory Equilibrum Analysis and Recursive Utility\u003c\/font\u003e\u003cbr\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003c\/p\u003e\n\u003cp\u003e\u003cfont size=\"4\"\u003eRobert Becker (Author), John Boyd (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781557864130, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 26 April 1997\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e368 pages\u003cbr\u003e23.7 x 16 x 3.3 cm, 0.709 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003e\u003ci\u003eIn Capital Theory and Equilibrium Analysis and Recursive Utility,\u003c\/i\u003e Robert Becker and John Boyd have synthesized their previously unpublished work on recursive models.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eList of Examples. \u003cp\u003ePreface.\u003c\/p\u003e \u003cp\u003ePart I: The Recursive Utility Approach:.\u003c\/p\u003e \u003cp\u003e1. Introduction.\u003c\/p\u003e \u003cp\u003e2. What is a Recursive Utility Function?.\u003c\/p\u003e \u003cp\u003e3. Why Study Recursive Utility?.\u003c\/p\u003e \u003cp\u003e3.1. The Long Run Incidence of Capital Taxation. The Tax Model. Tax Incidence with the TAS Specification. Tax Incidence With the Epstein-Hynes Utility Specification.\u003c\/p\u003e \u003cp\u003e3.2. The Impatience Problem. The Impatience Problem with an Epstein-Hynes Utility Function.\u003c\/p\u003e \u003cp\u003e4. Recursive Utility and Commodity Spaces.\u003c\/p\u003e \u003cp\u003e4.1 Diminishing Returns and Bounded Growth.\u003c\/p\u003e \u003cp\u003e4.2 Nondecreasing Returns and Sustained Growth. Growth and Exogenous Technical Progress. Endogenous Growth Models.\u003c\/p\u003e \u003cp\u003e4.3. Order Structures. Weak Separability of the Future from the Present. Partial Orders on the Commodity Space.\u003c\/p\u003e \u003cp\u003e5. Conclusion.\u003c\/p\u003e \u003cp\u003ePart II: Commodity and Price Spaces:.\u003c\/p\u003e \u003cp\u003e1. Introduction.\u003c\/p\u003e \u003cp\u003e2. Commodity Spaces.\u003c\/p\u003e \u003cp\u003e2.1. Order Properties. Free Disposal.\u003c\/p\u003e \u003cp\u003e2.2 Topological Properties. Metric Spaces. Continuity. Compactness, Product Spaces, and the Tychonoff. Theorem. Connectedness.\u003c\/p\u003e \u003cp\u003e2.3. Linear Topologies. Order Convergence. Contraction Mapping Theorems.\u003c\/p\u003e \u003cp\u003e3. Commodity Price Dualities.\u003c\/p\u003e \u003cp\u003e3.1. Duals and Hyperplanes.\u003c\/p\u003e \u003cp\u003e3.2. Hahn-Banach Theorems.\u003c\/p\u003e \u003cp\u003e3.3. Dual Pairs and Weak Topologies.\u003c\/p\u003e \u003cp\u003e3.4. Order Duals.\u003c\/p\u003e \u003cp\u003e4. Conclusion.\u003c\/p\u003e \u003cp\u003ePart III: Representation of Recursive Preferences:.\u003c\/p\u003e \u003cp\u003e1. Introduction.\u003c\/p\u003e \u003cp\u003e2. Preference Orders and Utility Theory.\u003c\/p\u003e \u003cp\u003e3. Recursive Utility: The Koopmans Axioms.\u003c\/p\u003e \u003cp\u003e3.1. The Axioms.\u003c\/p\u003e \u003cp\u003e3.2. Biconvergence.\u003c\/p\u003e \u003cp\u003e3.3. Recursive Preferences and Myopia.\u003c\/p\u003e \u003cp\u003e4. Impatience, Discounting and Myopia.\u003c\/p\u003e \u003cp\u003e4.1. Impatience and Time Perspective.\u003c\/p\u003e \u003cp\u003e4.2. Myopia and the Continuity Axiom.\u003c\/p\u003e \u003cp\u003e4.3. The Norm of Marginal Impatience Conditions.\u003c\/p\u003e \u003cp\u003e5. Recursive Utility: The Aggregator.\u003c\/p\u003e \u003cp\u003e5.1. Basic Properties of the Aggregator.\u003c\/p\u003e \u003cp\u003e5.2. The Existence of Recursive Utility.\u003c\/p\u003e \u003cp\u003e5.3. Aggregators Bounded From Below.\u003c\/p\u003e \u003cp\u003e5.4. Unbounded Aggregators.\u003c\/p\u003e \u003cp\u003e6. Conclusion.\u003c\/p\u003e \u003cp\u003ePart IV: Existence and Characterization of Optimal Paths:.\u003c\/p\u003e \u003cp\u003e1. Introduction.\u003c\/p\u003e \u003cp\u003e2. Fundamentals of Existence Theory.\u003c\/p\u003e \u003cp\u003e2.1. A Simple Capital Accumulation Model.\u003c\/p\u003e \u003cp\u003e2.2. The Weierstrass Theorem.\u003c\/p\u003e \u003cp\u003e2.3. One-Sector TAS Existence Theory.\u003c\/p\u003e \u003cp\u003e2.4. Extended Utilitarianism.\u003c\/p\u003e \u003cp\u003e3. Multisector Capital Accumulation Model.\u003c\/p\u003e \u003cp\u003e3.1. The von Neumann and Malinvaud Models.\u003c\/p\u003e \u003cp\u003e3.2. The Feasible Correspondence.\u003c\/p\u003e \u003cp\u003e4. The Existence and Sensitivity of Optimal Paths.\u003c\/p\u003e \u003cp\u003e4.1. The Maximum Theorem.\u003c\/p\u003e \u003cp\u003e4.2. Optimal Paths.\u003c\/p\u003e \u003cp\u003e5. Recursive Dynamic Programming.\u003c\/p\u003e \u003cp\u003e5.1. Dynamic Programming with TAS Utility.\u003c\/p\u003e \u003cp\u003e5.2. Recursive Utility and Multisector Models.\u003c\/p\u003e \u003cp\u003e5.3. Dynamic Programming and Extended Utilitarianism.\u003c\/p\u003e \u003cp\u003e6. Characterization of Optimal Paths.\u003c\/p\u003e \u003cp\u003e6.1. No-Arbitrage Conditions.\u003c\/p\u003e \u003cp\u003e6.2. Complete Characterization of Optimal Paths.\u003c\/p\u003e \u003cp\u003e7. Conclusion.\u003c\/p\u003e \u003cp\u003ePart V:.\u003c\/p\u003e \u003cp\u003e1. Introduction.\u003c\/p\u003e \u003cp\u003e2. One-Sector Models.\u003c\/p\u003e \u003cp\u003e2.1. Stationary States in One-Sector Models.\u003c\/p\u003e \u003cp\u003e2.2. Monotonicity and Turnpikes in TAS Models.\u003c\/p\u003e \u003cp\u003e2.3. Monotonocity and Turnpikes in Recursive Models.\u003c\/p\u003e \u003cp\u003e2.4. Growing Economies.\u003c\/p\u003e \u003cp\u003e3. Steady States in Multisectoral Models.\u003c\/p\u003e \u003cp\u003e3.1. Stationary Optimal Programs for Additive Utility.\u003c\/p\u003e \u003cp\u003e3.2. Stationary Optimal Programs for Recursive Utility.\u003c\/p\u003e \u003cp\u003e4. Stability of Multisectoral Models.\u003c\/p\u003e \u003cp\u003e4.1. The Undiscounted Model.\u003c\/p\u003e \u003cp\u003e4.2. The Visit Lemma.\u003c\/p\u003e \u003cp\u003e4.3. Uniqueness of Steady States.\u003c\/p\u003e \u003cp\u003e4.4. Local and Global Stability.\u003c\/p\u003e \u003cp\u003e5. Cycles and Chaos in Optimal Growth.\u003c\/p\u003e \u003cp\u003e5.1. The Existence of Cycles.\u003c\/p\u003e \u003cp\u003e5.2. Chaotic Dynamics.\u003c\/p\u003e \u003cp\u003e6. Conclusion.\u003c\/p\u003e \u003cp\u003ePart VI: Equivalence Principles and Dynamic Equilibria:.\u003c\/p\u003e \u003cp\u003e1. Introduction.\u003c\/p\u003e \u003cp\u003e2. Equivalence Principles for One-Sector Models.\u003c\/p\u003e \u003cp\u003e2.1. The Perfect Foresight Equivalence Theorem. Perfect Foresight Competitive Equilibrium. The PFCE Equivalence Principle.\u003c\/p\u003e \u003cp\u003e2.2. The Fisher Equivalence Theorem.\u003c\/p\u003e \u003cp\u003e2.3. The Equivalence Theorem and the Transversality Condition.\u003c\/p\u003e \u003cp\u003e2.4. Recursive Competitive Equilibrium and Recursive Utility.\u003c\/p\u003e \u003cp\u003e3. Multisector Equivalence Principles.\u003c\/p\u003e \u003cp\u003e3.1. The Portfolio Equilibrium Condition.\u003c\/p\u003e \u003cp\u003e3.2. The Two-Sector Model's Equivalence Theorem. The Household Sector. The Production Sector. The Transformation Function. Perfect Foresight Equilibrium. The Optimal Growth Problem. The Equivalence Theorem.\u003c\/p\u003e \u003cp\u003e3.3. Dynamics and The Two-Sector Model's Equivalence Theorem.\u003c\/p\u003e \u003cp\u003e4. The Transversality Condition and the Hahn Problem.\u003c\/p\u003e \u003cp\u003e5. Conclusion.\u003c\/p\u003e \u003cp\u003ePart VII: Comparative Dynamics:.\u003c\/p\u003e \u003cp\u003e1. Introduction.\u003c\/p\u003e \u003cp\u003e2. The Reduced-Form TAS Model.\u003c\/p\u003e \u003cp\u003e2.1. Comparative Dynamics.\u003c\/p\u003e \u003cp\u003e2.2. Comparative Dynamics for Oscillating Programs.\u003c\/p\u003e \u003cp\u003e2.3. Comparative Dynamics and Capital Income Tax Reform.\u003c\/p\u003e \u003cp\u003e3. A Primer of Lattice Programming.\u003c\/p\u003e \u003cp\u003e3.1. More About Lattices.\u003c\/p\u003e \u003cp\u003e3.2. An Introduction to Monotone Comparative Statistics.\u003c\/p\u003e \u003cp\u003e3.3. Topkis's Theorems.\u003c\/p\u003e \u003cp\u003e4. Lattice Programming and the Reduced-Form TAS Model.\u003c\/p\u003e \u003cp\u003e4.1. The Monotonicity of Optimal Capital Policy Function.\u003c\/p\u003e \u003cp\u003e4.2. The Capital Deepening Theorem.\u003c\/p\u003e \u003cp\u003e5. Recursive Utility Models.\u003c\/p\u003e \u003cp\u003e5.1. Recursive Utility, Monotonicity and Lattice Programming.\u003c\/p\u003e \u003cp\u003e5.2. Increasing Impatience and Recursive Utility.\u003c\/p\u003e \u003cp\u003e5.3. Capital Deepening and Recursive Utility.\u003c\/p\u003e \u003cp\u003e6. Conclusion.\u003c\/p\u003e \u003cp\u003ePart VIII: Dynamic Competitive Equilibrium:.\u003c\/p\u003e \u003cp\u003e1. Introduction.\u003c\/p\u003e \u003cp\u003e2. Dynamic Economies.\u003c\/p\u003e \u003cp\u003e2.1. Existence of Pareto Optima.\u003c\/p\u003e \u003cp\u003e3. The Core.\u003c\/p\u003e \u003cp\u003e3.1. Existence of Core Allocations.\u003c\/p\u003e \u003cp\u003e3.2. Edgeworth Equilibria.\u003c\/p\u003e \u003cp\u003e4. The Core and Competitive Equilibrium.\u003c\/p\u003e \u003cp\u003e4.1. Core Equivalence.\u003c\/p\u003e \u003cp\u003e4.2. The Welfare Theorems.\u003c\/p\u003e \u003cp\u003e4.3. Representation of Equilibrium as Welfare Maximum.\u003c\/p\u003e \u003cp\u003e5. Models with Very Heterogeneous Discounting.\u003c\/p\u003e \u003cp\u003e5.1. Core Equivalence with Heterogeneous Discounting.\u003c\/p\u003e \u003cp\u003e5.2. Specialization to Recursive Utility.\u003c\/p\u003e \u003cp\u003e6. Conclusion.\u003c\/p\u003e \u003cp\u003eReferences.\u003c\/p\u003e \u003cp\u003eIndex.\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Economics [\u003ca title=\"See our other books on Economics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Economics%20%5BKC%5D%22\"\u003eKC\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley-Blackwell","offers":[{"title":"Brand New","offer_id":52441821774104,"sku":"9781557864130","price":99.45,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9781557864130.jpg?v=1785027678","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/capital-theory-equilibrum-analysis-and-recursive-utility-hardback-9781557864130","provider":"Freshly Printed Books","version":"1.0","type":"link"}