IJPAM: Volume 67, No. 3 (2011)
A NOTE ON CONVERGENCE SPEED AND POPULATION
IN THE AK MODEL WITH HABIT FORMATION
IN THE AK MODEL WITH HABIT FORMATION
Massimiliano Ferrara
Department SSGES
Mediterranean University of Reggio Calabria
2, Via dei Bianchi, Reggio Calabria, 89127, ITALY
e-mail: massimiliano.ferrara@unirc.it
Department SSGES
Mediterranean University of Reggio Calabria
2, Via dei Bianchi, Reggio Calabria, 89127, ITALY
e-mail: massimiliano.ferrara@unirc.it
Abstract.This paper examines the implications of a logistic population
growth hypothesis in the AK model with habit formation of Gomez [11]. We first prove that there exists a steady state equilibrium, which is a saddle point with a two dimensional
stable manifold. Then, in contrast to Gomez [11], we show that the asymptotic speed of convergence does not necessarily decrease as the value of some parameter increases.
Received: January 5, 2011
AMS Subject Classification: 91B62
Key Words and Phrases: habit formation, logistic population, AK model
Source: International Journal of Pure and Applied Mathematics
ISSN: 1311-8080
Year: 2011
Volume: 67
Issue: 3
