Dynamic optimization in a multi-product firm

J.H. Geldrop, van; C.A.A.M. Withagen

Dynamic optimization in a multi-product firm

J.H. Geldrop, van, C.A.A.M. Withagen

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Abstract

This paper considers the problem of optimal dynamic allocation of factors of production in a multiproduct firm. In particular we study a firm which produces by means of fixed assets an (intermediary) output that can be sold on the market or used within the firm to produce a second output which can be sold as a final product or can be added to the existing capital stock. We show the existence of optimal trajectories, establish some stability properties and provide further characteristics.

Original language	English
Place of Publication	Eindhoven
Publisher	Technische Universiteit Eindhoven
Number of pages	20
Publication status	Published - 1987

Publication series

Name	Memorandum COSOR
Volume	8718
ISSN (Print)	0926-4493

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Dynamic optimization in a multi-product firm

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