ON THE GOMPERTZ LIMIT OF THE MONOTONIC NEOCLASSICAL GROWTH MODEL
Abstract
The burden of proof of any theory aiming to represent a physical or biological reality by demonstrating its unifying properties is applied in the present paper in relation to the Neoclassical growth model and its ability to reproduce Gompertz growth. The Neoclassical growth model derived from first biological and physical principles was shown to capture all qualitative features that were revealed experimentally, including the possibility of a Logarithmic Inflection Point (LIP), the possibility of a LAG, concave as well as convex curves on the phase diagram, the Logistic growth as a special case, growth followed by decay, as well as oscillations. In addition, quantitative validation demonstrated its ability to reproduce experimental data in a few tested cases. This paper demonstrates that the Neoclassical growth model can reproduce a Generalized version of Gompertz growth too.
