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(Introduction)
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(Environment)
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(Analytical Results)
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(Properties of the Value Function and Optimal Correspondence)
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(Analytical Results for Optimal Paths)
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(Refinements and Implications of Theorem 1)
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(Locator function is single crossing from above)
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(Locator function has two interior roots)
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(The payoff function is strictly concave)
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(Using the Locator Function for Comparative Statics)
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(Applications)
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(A Model of Rational \(Un\)fitness)
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(An Economy with Intertemporal Economies of Scale)
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(Remarks)
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(Conclusion)
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(Appendix: Proofs and Results in the Text)
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(Appendix for Section 3.1)
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(Appendix for Section 3.2)
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(Appendix for Section 4)
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(Proof of Proposition 4.1)
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(Proof of Proposition 4.2)
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(Proof of Proposition 4.3)
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(Appendix for Proof of Theorem 1)
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(Appendix for Section 5.1)
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(Appendix for Section 5.2)
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(Unbounded State Space)
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(Properties of the Value Function)
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(Existence and Uniqueness of the Value Function)
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(Monotonicity of the Value Function)
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(Differentiability of the Value Function)
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(Properties of the optimal correspondence)
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(Topological Properties of the Optimal Correspondence)
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(Monotonicity of the Optimal Correspondence)
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(Characterization of Basins of Attraction of )
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(Sufficient Conditions for Locator functions to have well-separated roots)
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(Proofs of Auxiliary Lemmas)
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(Sufficient Conditions for Condition 4)
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(Extensions of Application 5.2)
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(Import foreign variety)
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(Closed economy with CES preference)
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