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Existence Results and Finite Horizon Approximates for Infinite Horizon Optimization Problems

Econometrica 1987 55(5), 1187 open access
The paper deals with infinite horizon optimization problems. The existence of optimal solutions is obtained as a consequence of an asymptotic growth condition. We also exhibit finite horizon approximates that yield upper and lower bounds for the optimal values and whose optimal solutions converge to the long-term optimal trajectories.