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It is a pleasure to acknowledge the helpful conversations we had with Professor Tapan Mitra and Mr. Debraj Ray. Financial support came from the National Science Foundation.
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Majumdar, M., Nermuth, M. Dynamic optimization in non-convex models with irreversible investment: Monotonicity and turnpike results. Zeitschr. f. Nationalökonomie 42, 339–362 (1982). https://doi.org/10.1007/BF01283642
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DOI: https://doi.org/10.1007/BF01283642