A stochastic Ramsey model is studied with the Cobb-Douglas production function maximizing the expected discounted utility of consumption. We transformed the Hamilton-Jacobi-Bellman (HJB) equation associated with the stochastic Ramsey model so as to transform the dimension of the state space by changing the variables. By the viscosity solution method, we established the existence of viscosity so...

We consider differentiated duopolists that face symmetric linear demands and produce using Cobb–Douglas technologies with a monopolized input competitively supplied input. A merger between the monopolist either firm eliminates double marginalization but – unlike? fixed-proportions can lead to foreclosure reduce welfare. The same occur under CES technology greater substitutability than Cobb–Doug...

The actual scientific problem in machine learning is the development of new interpretable mathematical models, as well methods and programs for their construction. Many well-known regression models have good interpretative properties, example, linear power (Cobb – Douglas production functions). Previously, author developed non-elementary regressions, constructing which was reduced to mixed inte...

In this work we analyze the large-time behavior of a spatially structured economic growth model coupling physical capital accumulation and pollution diffusion. This model extends other results in the literature along different directions. Alongside the classical Cobb–Douglas production function, a convex–concave production function is considered. We add a negative feedback to the production fun...

This paper constructs a model of corporate investment decisions under hyperbolic discounting of present values. The hyperbolic discounted present value can be interpreted as reáecting irrational myopic preferences or, as this paper demonstrates, reduced-form implications of corporate agency issues. Both cases result in an underinvestment problem for the Örm, but the Örm valuation criteria di§er...

This paper is intended to be pedagogical rather than a presentation of original research. We describe a simple dynamic, stochastic general equilibrium (DSGE) model with capital utilization, capital adjustment costs, and a simple Cobb-Douglas technology to illustrate how DSGE models can be used to explain the past and to forecast the future. We identify one method to directly estimate latent var...

This paper examines the Benhabib and Spiegel (2005) model of technology diffusion using a new latent index of human capital and competing indicators that include the Barro and Lee (2010) estimates. The new index is a measure of education quality for seventy nations in 1970-2003. Analysis utilises both cross-section and dynamic panel GMM estimation and extends beyond the Cobb-Douglas production ...

Public education expenditure is the largest public and foundation of development in China. This paper uses Cobb-Douglas production function model to analyze relationship between China's economic growth, explores impact proportion primary, secondary tertiary on growth. The results show that has a positive effect accounts for contribution followed by higher primary education. research suggest Chi...