DYNAMIC INVESTMENT POLICY WITH INSTALLATION EXPERIENCE EFFECTS

被引：1
|
作者：
JORGENSEN, S [1 ]
KORT, PM [1 ]
机构：
[1] TILBURG UNIV,DEPT ECON,5000 LE TILBURG,NETHERLANDS
来源：
JOURNAL OF OPTIMIZATION THEORY AND APPLICATIONS | 1993年 / 77卷 / 02期
关键词：
OPTIMAL CONTROL; INVESTMENT POLICY; ADJUSTMENT COSTS; INSTALLATION EXPERIENCE;
D O I：
10.1007/BF00940721
中图分类号：
C93 [管理学]; O22 [运筹学];
学科分类号：
070105 ; 12 ; 1201 ; 1202 ; 120202 ;
摘要：
This paper analyzes the consequences of incorporating a learning-by-doing effect in the firm's adjustment cost function. The hypothesis is that, the larger the existing capital stock, the larger the installation experience gained, and therefore the smaller the cost of installing an additional unit of capital stock. The implications of the hypothesis are investigated in an optimal control model for the determination of the firm's optimal investment policy over an infinite planning period.
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页码：421 / 438
页数：18
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