Award Date

1-1-2000

Degree Type

Thesis

Degree Name

Master of Science (MS)

Department

Mathematical Sciences

First Committee Member

David Costa

Number of Pages

65

Abstract

We consider the maximization of a functional representing social welfare over continuous time. A social welfare functional (SWF) is an integral that models social welfare as a function of individual consumption, individual utility of consumption and the value of utility aggregated across individuals. A SWF may be subject to constraints in the form of differential or integral equations and inequalities, which represent the production possibilities of the economy. We solve the optimization problem by applying the Pontryagin maximum principle. We consider an autarky and a command economy. We explore the interaction of impatience and productivity in autarky and the implications of different maxims of distributive justice in a command economy.

Keywords

Application Control; Economics; Optimal; Theory; Welfare

Controlled Subject

Mathematics; Economics

File Format

pdf

File Size

1536 KB

Degree Grantor

University of Nevada, Las Vegas

Language

English

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Rights

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