In this paper, we make use of the Sobolev space W1,1(R+, Rn) to derive at once the Pontryagin conditions for the standard optimal growth model in continuous time, including a necessary and sufficient transversality condition. An application to the Ramsey model is given. We use an order ideal...

In this paper, we make use of the Sobolev space W1,1 (R+,Rn) toderive at once the Pontryagin conditions for the standard optimalgrowth model in continuous time, including a necessary and sufficienttransversality condition. An application to the Ramsey model is given.We use an order ideal...