Cake eating, exhaustible resource extraction, life-cycle saving, and non-atomic games: Existence theorems for a class of optimal allocation problems

B-Tier
Journal: Journal of Economic Dynamics and Control
Year: 2009
Volume: 33
Issue: 6
Pages: 1345-1360

Score contribution per author:

2.018 = (α=2.02 / 1 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper investigates the problem concerning the existence of a solution to a diverse class of optimal allocation problems which include models of cake eating, exhaustible resource extraction, life-cycle saving, and non-atomic games. A new formulation that encompasses all these diverse models is provided. Examples of these models for which a solution does not exist and the causes of the non-existence are studied. Two theorems are provided to tackle the existence problem under different conditions. Several analytical examples with a closed-form solution are offered to illustrate the usefulness of the existence theorems.

Technical Details

RePEc Handle
repec:eee:dyncon:v:33:y:2009:i:6:p:1345-1360
Journal Field
Macro
Author Count
1
Added to Database
2026-01-25