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Keywords:
weakly maximal program; support prices; utility function; value function; Yosida-Hewitt decomposition; concave subdifferential
weakly maximal program; support prices; utility function; value function; Yosida-Hewitt decomposition; concave subdifferential
Summary:
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.
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