Mathematical model description - GEM-E3: Difference between revisions
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: <math> maxU_{er,t} </math> | : <math> maxU_{er,t} </math> | ||
:<math> Q = F \cdot \left(a \cdot K^r+(1-a) \cdot L^r\right)^{\frac{1}{r}} </math> |
Revision as of 11:35, 18 October 2016
Corresponding documentation | |
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Previous versions | |
Model information | |
Model link | |
Institution | Institute of Communication And Computer Systems (ICCS), Greece, https://www.iccs.gr/en/. |
Solution concept | General equilibrium (closed economy) |
Solution method | Optimization |
Anticipation |
The general specification of the 1st stage problem, with a time separable Stone-Geary utility function, can be written as follows: