Economic Characterization of Reciprocal Isoperimetric Control Problems Revisited |
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| Authors: | M R Caputo |
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| Institution: | (1) Department of Agricultural and Resource Economics, University of California, Davis, California, and;(2) Giannini Foundation of Agricultural Economics, USA |
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| Abstract: | Theorem 2.1 of Caputo (Ref. 1) linking the optimal solution functions and optimal value functions of reciprocal pairs of isoperimetric control problems is correct, but requires stronger assumptions than those used explicitly to establish its veracity. One such set of stronger assumptions is provided in this note. |
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| Keywords: | Isoperimetric control problems comparative dynamics resource economics economic interpretations |
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