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Paper Title:
A New Property of General Means of Order p with an Application to the Theory of Economic Growth
Author(s):
Olivier de La Grandville
Department of Management Science and Engineering,
Huang Engineering Center, Stanford University,
475 Via Ortega, Stanford, California 94305
U.S.A.
Abstract:
The purpose of this note is to demonstrate a new property of the general mean of order p of m ordered positive numbers . If p < 0 and if , the elasticity of with respect to xm, defined by , tends towards zero, and therefore . This property is then applied to optimal growth theory.
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