期刊名称：CORE Discussion Papers / Center for Operations Research and Econometrics (UCL), Louvain
出版年度：2009
卷号：1
出版社：Center for Operations Research and Econometrics (UCL), Louvain
摘要：A new technology adoption problem can be modelled as a two-stage control
problem, in which model parameters (¡°technology¡±) might be altered at some time.
An optimal solution to utility maximisation for this class of problems needs to
contain information on the time, at which the change will take place (0, finite or
never), along with the optimal control strategies before and after the change. For
the change, or switch, to occur the ¡°new technology¡± value function needs to
dominate the ¡°old technology¡± value function, after the switch. We charaterise the
value function using the fact that its hypograph is a viability kernel of an auxiliary
problem and we study when the graphs can intersect. If they do not, the switch
cannot occur at a positive time. Using this characterisation we analyse a technology
adoption problem and show how to recognise the models, for which the switch will
occur at time zero or never.
关键词：technology adoption, value function, viability kernel, viscosity
solutions.
