Dynamic Models of the Firm : Determining Optimal Investment, Financing and Production Policies by Computer Book

Contents: Introduction.- Mathematical Background to Dynamic Optimization: Introduction.- Analytical approach to the optimization problem.- Numerical approach to the optimization problem.- Economic interpretation of the adjoint variables.- General procedure.- The Basic Model: Introduction.- The model and its assumptions.- Examination of the paths.- Case study.- Conclusions.- A Model with Start-up Costs: Introduction.- The model and its assumptions.- Examination of the paths.- Case study.- Conclusions.- Models with a Business Cycle: Introduction.- The basic model.- A model with a variable utilization rate.- A model with a cash balance.- A model with an inventory of finished goods.- Conclusions.- A Model with Increasing Returns to Scale, an Experience Curve and a Production Life Cycle: Introduction.- Description of the model.- Case study.- Conclusions.- Appendices.