Optimal Firm Behaviour in the Context of Technological Progress and a Business Cycle
Buch in deiner Nähe kaufen
Beschreibung
This book applies Optimal Control Theory to dynamic firm behaviour. In a deterministic context, the optimal investment and financing policy of a firm which is confronted with technological progress or with a fluctuating demand is studied. A new version of the Maximum Principle is derived in order to handle vintage models. Special attention is given to the shadow price interpretations and the (de-)merits of optimisation models of firm behaviour.
Autor*in
Onno van Hilten
Themen in »Optimal Firm Behaviour in the Context of Technological Progress and a Business Cycle«
Financing Finanzierungspolitik Investionspolitik Investment Konjunkturzyklen Technologischer Fortschritt business cycle dynamic firm behaviour maximum principle optimal control optimization technological process theory of the firm