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<!DOCTYPE article PUBLIC "-//NLM//DTD JATS (Z39.96) Journal Publishing DTD v1.3 20210610//EN" "https://jats.nlm.nih.gov/publishing/1.3/JATS-journalpublishing1-3.dtd">
<article article-type="research-article" dtd-version="1.3" xml:lang="en">
  <front>
    <journal-meta>
      <journal-title-group>
        <journal-title>π-Economy</journal-title>
        <trans-title-group xml:lang="ru">
          <trans-title>π-Economy</trans-title>
        </trans-title-group>
      </journal-title-group>
      <issn pub-type="epub">2782-6015</issn>
    </journal-meta>
    <article-meta>
      <article-id pub-id-type="publisher-id">32</article-id>
      <title-group>
        <article-title>Optimal growth paths under different utility specifications, with application  to the Structural Dynamic Economic Model SDEM-2</article-title>
        <trans-title-group xml:lang="ru">
          <trans-title>Траектории оптимального роста при различных спецификациях  полезности</trans-title>
        </trans-title-group>
      </title-group>
      <contrib-group>
        <contrib contrib-type="author">
          <name>
            <surname>Kovalevsky</surname>
            <given-names>Dmitry</given-names>
          </name>
          <email>dmitry.kovalevsky@niersc.spb.ru, d_v_kovalevsky@list.ru</email>
        </contrib>
      </contrib-group>
      <pub-date publication-format="electronic" date-type="pub" iso-8601-date="2012-12-10">
        <day>10</day>
        <month>12</month>
        <year>2012</year>
      </pub-date>
      <issue>6</issue>
      <issue-id pub-id-type="publisher-id">161</issue-id>
      <fpage>188</fpage>
      <lpage>192</lpage>
      <abstract xml:lang="en">
        <p>Two different model setups (system-dynamic vs. optimization setup) of the model SDEM-2 (Structural Dynamic Economic Model, version 2) are discussed. The model describes the evolution of the economy driven by conflict of interest of two powerful aggregated actors: entrepreneurs and wage-earners. The «performance» of various entrepreneur control strategies governing the evolution of the economy in the system-dynamic mode is evaluated by computing the utilities on corresponding trajectories in phase space. It is shown that the decision-strategies of entrepreneurs are fundamentally dependent on the structure of the chosen utility functions.</p>
      </abstract>
      <kwd-group xml:lang="en">
        <kwd>ECONOMIC GROWTH</kwd>
        <kwd>SYSTEM DYNAMICS</kwd>
        <kwd>UTILITY MAXIMIZATION</kwd>
        <kwd>BALANCED GROWTH</kwd>
      </kwd-group>
    </article-meta>
  </front>
</article>
