McKenzie in 1976 published a review of the idea up to that point. He saw three general variations of turnpike theories.^[8]

Applications[edit]

The theorem has many applications in optimal control and in a general equilibrium context. In general equilibrium, the variation which involves infinite capital accumulation paths can be applied. In a system with many infinitely lived agents with the same (small) discount rates on the future, regardless of initial endowments, the equilibrium allocations of all agents converge.^[10][11]


Although studies on the turnpike theorem are mostly theoretical, Jinkichi Tsukui's work^[12] is a notable exception. He empirically implemented the theorem using actual input-output data for Japan, and the resulting model was used for planning purposes by the Japanese government.^[13]