Dynamic optimization in a multi-product firm

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

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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.
Originele taal-2Engels
Plaats van productieEindhoven
UitgeverijTechnische Universiteit Eindhoven
Aantal pagina's20
StatusGepubliceerd - 1987

Publicatie series

NaamMemorandum COSOR
ISSN van geprinte versie0926-4493

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