IJPAM: Volume 62, No. 2 (2010)

THE DYNAMIC OF THE AK RAMSEY GROWTH MODEL
WITH QUADRATIC UTILITY AND LOGISTIC
POPULATION CHANGE

Luca Guerrini
Department of Mathematics for Economic and Social Sciences
University of Bologna
5, Viale Filopanti, Bologna, 40126, ITALY
e-mail: [email protected]


Abstract.This paper incorporates the hypothesis of quadratic utility and logistic population growth into the Ramsey growth model. It is shown that the economy has a unique non-trivial steady state equilibrium, which happens to be a saddle point with a one or two dimensional stable manifold.

Received: June 17, 2010

AMS Subject Classification: 91B62

Key Words and Phrases: Ramsey model, quadratic utility, logistic population

Source: International Journal of Pure and Applied Mathematics
ISSN: 1311-8080
Year: 2010
Volume: 62
Issue: 2