This paper presents the surrogate model based algorithm SO-I for solving purely integer optimization problems that have computationally expensive black-box objective functions and that may have computationally expensive constraints. The algorithm was developed for solving global optimization...

This paper studies a one-sector optimal growth model with linear utility in which the production function is only required to be increasing and upper semicontinuous. The model also allows for a general form of irreversible investment. We show that every optimal capital path is strictly monotone...