Structure of optimal trajectories in a nonlinear dynamic model with endogenous delay

DOI10.1155/S1110757X04311046MaRDI QIDQ2570900zbMATH OpenFDO

Authors Natali Hritonenko, Yuri Yatsenko

Publication date 31 October 2005

Published in Journal of Applied Mathematics (Search for Journal in Brave)

Full work available at URL https://eudml.org/doc/53458

zbMATH Keywords

endogenous capital lifetimenonlinear integral equationoptimal trajectoriesSolow vintage capital model

Mathematics Subject Classification ID

Existence theories for free problems in one independent variable (49J05) Optimality conditions for free problems in one independent variable (49K05) Economic growth models (91B62)

Review text

Summary: An exact solution is constructed to a nonlinear optimization problem in an integral dynamic model with delay. The problem involves the unknown duration of the delay and has important applications to the optimal replacement of capital equipment under technological change.

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