Capital Accumulation and Embodied Technological Progress
نویسندگان
چکیده
منابع مشابه
Capital Accumulation and Embodied Technological Progress
This paper combines technology adoption with capital accumulation taking into account technological progress. We model this as a multi-stage optimal control problem and solve it using the corresponding maximum principle. The model with linear revenue can be solved analytically, while the model with market power is solved numerically. We obtain that investment jumps upwards right at the moment t...
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ژورنال
عنوان ژورنال: Journal of Optimization Theory and Applications
سال: 2012
ISSN: 0022-3239,1573-2878
DOI: 10.1007/s10957-012-0042-5