Bliss and optimal growth

Başçı, Erdem
Voyvoda, Ebru
This paper studies optimal growth when households have bliss points in their consumption sets. Optimal policies are characterized for a one-sector, discrete-time growth model with quadratic utility and linear technology. The optimal consumption function turns out to be non-linear in an essential way. Depending on the level of patience and initial capital, poverty traps, Solow-type growth and endogenous growth are possible outcomes.


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Theoretical and empirical studies on wisdom continue to interest researchers in various fields. Studies have long pointed out the empirical operationalization of the construct, which has been speculated on since ancient Greece. In addition to numerous theoretical conceptualizations and operational measures, investigations between wisdom and other variables such as positive human traits, dispositional, situational, and environmental variables have helped us understand the concept better. The wisdom developme...
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This study focuses on the effects of drying on consistency limits. To observe the drying effects, samples for Atterberg limits were prepared (i) by starting from in situ moisture content without any drying, (ii) after drying at 60°C, and (iii) after drying at 110°C oven. When the samples were prepared by starting from their natural moisture content, the liquid limit values was 35% to 81% (1% to 26% higher with respect to the case of no drying) and plasticity index was 0% to 31%. Organic content of the sampl...
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Bilginer, Onur; Deveci, Cem; Department of Political Science and Public Administration (2006)
This study is on the political and ethical aspects of recent advances in genetics. Its aim is to explicate the scientific and technological premises of genetics along historical, philosophical and political axes by employing the critical perspectives of Jonas, Heidegger and Foucault. Starting the discussion from a brief account of scientific and technological revolutions initiated in the 16th and 17th centuries, I defend the thesis that the idea of control and manipulation of life is not a novelty introduce...
Life cycle and cost performance analysis on ship structural maintenance strategy of a short route hybrid ferry
Wang, Haibin; Oğuz, Elif; Jeong, Byongug; Zhou, Peilin (null; 2018-05-09)
This paper presents the importance of coating maintenance and suggests an optimal strategy from economic and environmental points of view. Life cycle analysis is introduced to estimate the economy and environment impacts so particular decision can be made. A case study of a hybrid ferry is carried out where cash, energy and emission flows are tracked and evaluated. With different maintenance intervals, the consumptions of energy, materials and fuels are evaluated to estimate their cost benefits. Emissions n...
Pro-rich inflation in Europe: Implications for the measurement of inequality
Gürer, Eren; Weichenrieder, Alfons (2020-04-01)
This paper studies the distributional consequences of a systematic variation in expenditure shares and prices. Using European Union Household Budget Surveys and Harmonized Index of Consumer Prices data, we construct household-specific price indices and reveal the existence of a pro-rich inflation in Europe. Over the period 2001-15, the consumption bundles of the poorest deciles in 25 European countries have, on average, become 11.2 percentage points more expensive than those of the richest deciles. We find ...
Citation Formats
E. Başçı and E. Voyvoda, “Bliss and optimal growth,” ODTÜ Gelişme Dergisi, vol. 28, no. 1, pp. 1–14, 2001, Accessed: 00, 2020. [Online]. Available: