When can it be not optimal to adopt a new technology? A viability theory solution to a two-stage optimal control problem of new technology adoption

DOI10.1002/oca.1030zbMath1273.93020MaRDI QIDQ2857154

Jacek B. Krawczyk, Oana-Silvia Serea

Publication date: 31 October 2013

Published in: Optimal Control Applications and Methods (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1002/oca.1030

zbMATH Keywords

value function; viscosity solutions; technology adoption; viability kernel; two-stage optimal control

Mathematics Subject Classification ID

49N90: Applications of optimal control and differential games

91B74: Economic models of real-world systems (e.g., electricity markets, etc.)

49L25: Viscosity solutions to Hamilton-Jacobi equations in optimal control and differential games

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