Dynamic Policies of the Firm - An optimal Control Approach

Hilten, Onno van / Kort, Peter M. / Loon, Paul J. van.

ISBN 10: 3540561250 / ISBN 13: 9783540561255

Edité par Berlin/Heidelberg/New York/London/Paris/Tokyo/Hong Kong/Barcelona/Budapest, Publishers: Springer Verlag, 1992., 1992

A propos de cet article

4°. XI, 445 Pages. Publishers: Springer Verlag (1992). XI, 445 Pages. Original Cased Binding (titled, illustrated). Library-Button on the Spine. Library-Stamp on Title and verso Title. No Markings in the Text! No Underlinings! No Owner-Notation! Cover only with small Signs of Use!

N° de réf. du vendeur 17104BB

Détails bibliographiques

• Titre: Dynamic Policies of the Firm - An optimal Control Approach
• Éditeur: Berlin/Heidelberg/New York/London/Paris/Tokyo/Hong Kong/Barcelona/Budapest, Publishers: Springer Verlag, 1992.
• Date de parution: 1992
• Langue: anglais
• ISBN à 10 chiffres: 3540561250
• ISBN à 13 chiffres: 9783540561255
• Reliure: Couverture rigide

A propos de ce titre

Synopsis

In this book we open our insights in the Theory of the Firm, obtained through the application of Optimal Control Theory, to a public of scholars and advanced students in economics and applied mathematics. We walk on the micro economic side of the street that is bordered by Theory of the Firm on one side and by Optimal Control Theory on the other, keeping the reader away from all the dead end roads we turned down during our 10 years lasting research. We focus attention on the expressiveness and variety of insights that are obtained through studying only simple models of the firm. In this book mathematics is our tool, insight in optimal corporate policy our goal. Therefore most of the mathematics and calculations is put into appendices and in the main text all attention is on modelling corporate behaviour and on analysing the results of the calculations. So, the main text focusses on micro economics, even more specific: on Theory of the Firm. In that way this book is contrasted from such famous text books in applied Optimal Control with a much broader portfolio of applications, like Feichtinger & Hartl (1986) or with a more rigorous introduction into theory, like Seierstad & Sydsaeter (1987).

Présentation de l'éditeur

This book belongs to the realm of dynamic theory of the firm. It discusses optimal investment, financing and production policies of the firm, that haveto deal with a diversity of aspects: alternative production techniques, financial constraints, technological progress, business cycles, uncertainty, environmental constraints, etc. The book studies how debt financing may facilitate expansion and how cost prices, prices of capital goods and investment grants influence depth investment decisions. Optimal investment decisions are analysed while taking into account taxation on environmental pollution, business cycles, adjustmentcosts and technological progress. Results are obtained by using Optimal Control Theory. The models lead to descriptions of growth and decline patterns of firms like we meet them in practice: distinctive stages succeeding each other, each with its own emphasis on specific management policies (growth, consolidation, depth investments, abatementefforts, etc.).