期刊名称：Discussion Paper / Département des Sciences Économiques de l'Université Catholique de Louvain
印刷版ISSN：1379-244X
出版年度：2002
卷号：1
出版社：Université catholique de Louvain
摘要：By deriving the necessary conditions for a multi-stage discounted optimal control problem where the endogenous switching instants between regimes appear as an argument of the objective function and the state equation, we analyze the optimal pattern of technology adoption under embodiment with a finite planning horizon. The economy is characterized by the existence of an exogenously growing technology frontier and technology specific learning by doing. We obtain time varying durations for the adopted technologies to be in use due to finite planning horizon. We analyze numerically the effects of planing horizon, speed of learning, growth rate of technology and impatience rate on the optimal pattern.
关键词：Multi-stage optimal control, technology adoption, learning by doing, embodiment
