Title

Nonlinear optimal control of vintage capital lifetime and irreversible investments

Document Type

Conference Proceeding

Publication Date

11-30-2005

Abstract

Vintage capital models such as Solow model, Ramsey model, two-factor model, and models with endogenous technological change are discussed to demonstrate a variety of applications of nonlinear integral models to mathematical economics and finance. For each model an optimal control problem is formulated and basic results about the existence and asymptotic behavior of a solution are provided. © 2005 Elsevier Ltd. All rights reserved.

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