IJPAM: Volume 67, No. 3 (2011)

A NOTE ON CONVERGENCE SPEED AND POPULATION
IN THE AK MODEL WITH HABIT FORMATION

Massimiliano Ferrara
Department SSGES
Mediterranean University of Reggio Calabria
2, Via dei Bianchi, Reggio Calabria, 89127, ITALY
e-mail: [email protected]


Abstract.This paper examines the implications of a logistic population growth hypothesis in the AK model with habit formation of Gomez [11]. We first prove that there exists a steady state equilibrium, which is a saddle point with a two dimensional stable manifold. Then, in contrast to Gomez [11], we show that the asymptotic speed of convergence does not necessarily decrease as the value of some parameter increases.

Received: January 5, 2011

AMS Subject Classification: 91B62

Key Words and Phrases: habit formation, logistic population, AK model

Source: International Journal of Pure and Applied Mathematics
ISSN: 1311-8080
Year: 2011
Volume: 67
Issue: 3