Dynamic optimization in a multi-product firm

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

Research output: Book/ReportReportAcademic

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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 languageEnglish
Place of PublicationEindhoven
PublisherTechnische Universiteit Eindhoven
Number of pages20
Publication statusPublished - 1987

Publication series

NameMemorandum COSOR
Volume8718
ISSN (Print)0926-4493

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