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

DOI10.1016/j.jedc.2007.12.003zbMath1181.91113OpenAlexW2054057766MaRDI QIDQ844773

Yuri Yatsenko, Renan-Ulrich Goetz, Natali Hritonenko

Publication date: 19 January 2010

Published in: Journal of Economic Dynamics \& 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

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

Related Items (14)

Generalized functions in the qualitative study of heterogeneous populations ⋮ Practical exponential stability of stochastic age-dependent capital system with Lévy noise ⋮ Maintenance and investment: complements or substitutes? A reappraisal ⋮ Investment in vintage capital ⋮ Impulse controls in optimal harvesting of age-structured populations ⋮ Optimal harvesting in age- and size-structured population models ⋮ A mixed integer nonlinear programming model for the optimal repair-replacement in the firm ⋮ Feasibility and optimality of the initial capital stock in the Ramsey vintage capital model ⋮ Convergence of numerical solutions for a class of stochastic age-dependent capital system with fractional Brownian motion ⋮ Optimal control of investments in old and new capital under improving technology ⋮ Vintage human capital and learning curves ⋮ Exponential stability of numerical solutions for a class of stochastic age-dependent capital system with Poisson jumps ⋮ Mean-square dissipative methods for stochastic age-dependent capital system with fractional Brownian motion and jumps ⋮ Age-Structured PDEs in Economics, Ecology, and Demography: Optimal Control and Sustainability

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