Modeling and optimization of the lifetime of technologies (Q1920205)

The authors study the nature and general properties of industrial renovation in an evolutionary economics characterized by technological diversity and a variable rate of technical change. The monograph consists of four parts and is organized as follows. The first part is devoted to different applications (control theory, economic systems, mathematical ecology) of the dynamical systems under consideration and the mathematical problems arising in the study of the associated nonlinear integral equations. In part 2, various optimization problems in analyzing one-sector dynamical systems of economic renovation are discussed. Moreover, the asymptotic behavior and turnpike properties of the optimal lifetime of technologies are studied in great detail. Part 3 is an extension of the previous results to two-, three-, and \(n\)-sector models. Finally, part 4 contains some numerical methods for (approximately) solving the problems stated. To sum up the monograph is a valuable contribution to modeling and analyzing the controlled lifetime of technologies.