Full text : Study week on the econometric approach to development planning

780 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 28

so that from (222-4)

(223-2)

[TK (t+0)8(0)e Can ~1

This condition can hold for all values of t only when K(t + 0)
is independent of t+ 0, in which case we have

(223-3)

1
“0 10
“B(0)e
K/

so that, from (220-1)

(223-4)

KE) amr

whence it follows that

223-5)

o(t-0.0)_ Bl)"
Eos

As the right hand side is independent of #, it can be seen
that ¢ is independent of # and invariant over time. Thus.

222-6)

Tie - 0, 0) = (0)

11] Allais - pag. 84
            
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