Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica: Mar, 1977, Volume 45, Issue 2

Optimal Maximin Accumulation with Uncertain Future Technology<317:OMAWUF>2.0.CO;2-2
p. 317-328

Guillermo A. Calvo

The Rawlsian maximin is defined for situations involving risk and applied to growth with an uncertain technology. Existence and uniqueness are discussed and it is shown to unambiguously lead to at least the same savings as under certainty.

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