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This is a Quantitative Study study.

October 3, 2025Open Access

Characterizing Optimality in Dynamic Settings: A Monotonicity-based Approach

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Analytical method reveals steady states and dynamics in optimization problems, suggesting implications for various models.

Optimal paths in dynamic optimization problems can be characterized using a novel locator function.
The locator function identifies steady states and their stability, contributing to understanding dynamics and comparative statics.
Under strict concavity, it offers a complete qualitative description of system dynamics, while showing sharp results without full solutions.
Applications include generalized models such as neoclassical growth and learning-by-doing economies.

Huang et al. (2025) studied this question.

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