Title

Optimization of financial and energy structure of productive capital

Document Type

Article

Publication Date

1-1-2006

Abstract

Optimal control of special non-linear Volterra integral equations is used to optimize the structure and lifetime of age-dependent productive capital at an individual enterprise level. The equations describe a multifactor vintage capital model. The optimization problem is to select investment, specific capital cost, specific energy consumption and capital lifetime that maximize net profit on finite and infinite horizons. The structure of optimal trajectories is investigated and relevant relations among technological and financial parameters of the productive capital are established.

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