Classical turnpike theory and the economics of forestry

B-Tier
Journal: Journal of Economic Behavior and Organization
Year: 2011
Volume: 79
Issue: 3
Pages: 194-210

Authors (2)

Khan, M. Ali (Johns Hopkins University) Piazza, Adriana (not in RePEc)

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

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

Abstract

Classical turnpike theory, as originally conceived by Samuelson, pertains to optimal growth theory over a large but finite time horizon with given initial and terminal stocks. In this paper, we present two turnpike results in the context of the economics of forestry with given initial and terminal forest configurations. Our results depart from the general theory in that they concern a transitional production set which does not satisfy the assumptions of inaction and free disposal, and rely on a recently discovered non-interiority assumption on concave (not necessarily differentiable) benefit functions that implies, and is implied by, the asymptotic convergence of good programs.

Technical Details

RePEc Handle
repec:eee:jeborg:v:79:y:2011:i:3:p:194-210
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25