Abstract:We consider an infinite dimensional, nonstationary growth model with uncertainty. Using techniques from functional analysis and the subdifferentiation theory of concave functions, we establish the existence of a supporting price system for a weakly maximal program.
Keywords: weakly maximal program, support prices, utility function, value function, Yosida-Hewitt decomposition, concave subdifferential
AMS Subject Classification: Primary 90A15; Secondary 49B20