Optimal pattern of technology adoptions under embodiment: A multi-stage optimal control approach
نویسندگان
چکیده
منابع مشابه
Technology adoption under embodiment: A two-stage optimal control approach∗
We use two stage optimal control techniques to solve some adoption problems under embodied technical change. We first solve a benchmark problem without learning behavior. At the date of switching, the consumption level is shown to drop, as the relative price of capital goes down (obsolescence). In such a case, the economy sticks to the initial technology, or immediately switches to a new techno...
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ژورنال
عنوان ژورنال: Optimal Control Applications and Methods
سال: 2010
ISSN: 0143-2087
DOI: 10.1002/oca.960