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Erschienen in:
2000 | OriginalPaper | Buchkapitel
Optimal Investments with Increasing Returns to Scale: A Further Analysis
verfasst von : Richard F. Hartl, Peter M. Kort
Erschienen in: Optimization, Dynamics, and Economic Analysis
Verlag: Physica-Verlag HD
Enthalten in: Professional Book Archive
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This paper considers a capital accumulation model that was previously analyzed by Barucci (1998). The specific feature of the model is that revenue is a convex function of the capital stock. We extend Barucci’s work by giving a full analytical characterization of the case where a saddle point with a positive capital stock level exists. Furthermore we also analyze the other cases.