Non-Stationary Gale Economy with Limited Technology and Multilane Turnpike. ”Weak”, ”Strong” and ”Very Strong” Turnpike Theorem

Abstract

In the author’s previous papers (2016a, 2016b) the generalized concept of turnpike in the stationary Gale’s economy has been proposed – a single turnpike (single von Neumann’s ray) has been replaced with a compact bundle of turnpikes and it has been called multilane turnpike. It has been proven that the ”weak” turnpike theorem holds in (a) stationary Gale’s economy with fixed (unchangeable in time) production technology and in (b) non-stationary Gale’s economy with technology convergent with time to a limit technology. In this article, in reference to the aforementioned papers, alongside with the ”weak” turnpike theorem, the proof of the ”strong” and ”very strong” turnpike theorem has been presented for the partially modified assumptions in a non-stationary economy with multilane turnpike and with technology convergent with time to a limit technology.