A simple proof of Ekeland and Scheinkman's result on the necessity of a transversality condition

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• 作者：Takashi Kamihigashi
• 关键词：Keywords and Phrases ; Transversality condition ; Dynamic optimization.
• 刊名：Economic Theory
• 出版年：2000
• 出版时间：March 2000
• 年：2000
• 卷：15
• 期：2
• 页码：463-468
• 全文大小：57 KB

文摘

Ekeland and Scheinkman (1986) prove the necessity of a standard transversality condition under certain technical conditions. Their result is one of the most powerful on the necessity of a transversality condition currently available in the literature, and their proof involves numerous estimations and relies on Ekeland's variational principle and Fatou's lemma. This note relaxes some of their assumptions and provides a simple proof that uses neither Ekeland's principle nor a convergence result like Fatou's lemma.