The optimal economic lifetime of vintage capital in the presence of operating costs, technological progress, and learning

DOI10.1016/J.JEDC.2007.12.003MaRDI QIDQ844773zbMATH OpenOpenAlexFDO

Authors Renan-Ulrich Goetz, Natali Hritonenko, Yuri Yatsenko

Publication date 19 January 2010

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jedc.2007.12.003

zbMATH Keywords

vintage capitaldistributed optimal controleconomic lifetimeoperation and maintenance coststechnological progress and learning

Mathematics Subject Classification ID

Resource and cost allocation (including fair division, apportionment, etc.) (91B32) Production theory, theory of the firm (91B38) Optimality conditions for problems involving partial differential equations (49K20)

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Cites work

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• Utilizing Weibull Failure Rates in Repair Limit Analysis for Equipment Replacement/Preventive Maintenance Decisions
• Vintage capital, investment, and growth

Cited in

(21)

• Anticipation effects of technological progress on capital accumulation: a vintage capital approach
• Mean-square dissipative methods for stochastic age-dependent capital system with fractional Brownian motion and jumps
• The optimal lifetime of capital equipment
• Practical exponential stability of stochastic age-dependent capital system with Lévy noise
• Investment in vintage capital
• Vintage human capital and learning curves
• Exponential stability of numerical solutions for a class of stochastic age-dependent capital system with Poisson jumps
• Age-structured PDEs in economics, ecology, and demography: optimal control and sustainability
• Convergence of numerical solutions for a class of stochastic age-dependent capital system with fractional Brownian motion
• Maintenance and investment: complements or substitutes? A reappraisal
• Network economics and optimal replacement of age-structured IT capital
• A mixed integer nonlinear programming model for the optimal repair-replacement in the firm
• Optimal control of investments in old and new capital under improving technology
• Technological innovations, economic renovation, and anticipation effects
• Analysis of optimal investment in continuum of capital vintages
• Optimal harvesting in age- and size-structured population models
• Generalized functions in the qualitative study of heterogeneous populations
• Optimal vintage capital utilisation. Supportability conditions
• Capital accumulation under technological progress and learning: a vintage capital approach
• Feasibility and optimality of the initial capital stock in the Ramsey vintage capital model
• Impulse controls in optimal harvesting of age-structured populations

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