Econometrica: May 1980, Volume 48, Issue 4

Generalized Solutions to Continuous-Time Allocation Processes<899:GSTCAP>2.0.CO;2-1
p. 899-922

Zvi Artstein

Measures, incorporating the utility stream, serve as generalized plans to continuous allocation processes. The paper establishes the automatic existence of optimal plans, characterization of optimal solutions by a multiplier-type condition, and representation of generalized plans as sums of ordinary ones and singular measures. The latter can, in particular, be chosen as a finite combination of atoms.

Log In To View Full Content