CONTROLLING CONTINUOUS TECHNOLOGICAL PROCESSES UNDER UNCERTAINTY

Strategic Technology Adoption under Technological Uncertainty

strategic technology adoption under technological uncertainty

Task Networks for Controlling Continuous Processes

This paper describes an extension to the RAP system task-net semantics and representation language to enable the effective control of continuous processes. The representation addresses the problems of synchronizing plan expansion with events in the world, coping with multiple, non-deterministic task outcomes, and the description of a simple form of clean-up task. It is also pointed out that suc...

Continuous-Time Public Good Contribution under Uncertainty

We study a continuous-time problem of optimal public good contribution under uncertainty for an economy with a finite number of agents. Each agent can allocate his wealth between private consumption and repeated but irreversible contributions to increase the stock of some public good. We study the corresponding social planner problem and the case of strategic interaction between the agents and ...

Optimal capital accumulation and embodied technological progress under uncertainty¤

This paper proposes a stochastic model of investment with embodied technological progress, in which ...rms invest not only to expand the capacity as in Pindyck (1988) but also to replace old machines. The scrapping decision or the age of the oldest machine is then endogenous and evolves stochastically. Uncertainty increases the optimal age of the machines in use, and due to uncertainty, not onl...