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A socially desirable number of royalties-paying users of state-owned broadcasting spectrum is derived within an optimal … higher variety and royalties’ revenues and the costs of the intensified interferences associated with entry. It also …. The steady-state of the broadcasting industry is derived for the case where these effects offset one another and for the …
Persistent link: https://www.econbiz.de/10008727732
A socially desirable number of royalties-paying users of a state-owned broadcasting spectrum is derived within an … costs. The optimal control takes into account the tradeoff between the benefits from higher variety and royalties’ revenues …-dissemination effect and the negative effort-diversion effect of broadcasts on aggregate income. The broadcasting industry’s optimal steady …
Persistent link: https://www.econbiz.de/10009203494
A socially desirable number of royalties-paying users of a state-owned broadcasting spectrum is derived within an … costs. The optimal control takes into account the tradeoff between the benefits from higher variety and royalties’ revenues …-dissemination effect and the negative effort-diversion effect of broadcasts on aggregate income. The broadcasting industry’s optimal steady …
Persistent link: https://www.econbiz.de/10009371687
state-owned spectrum for broadcasting. The spectrum royalties are set by the public planner to maximize the consumers … broadcasting industry, from the consumption of other goods, and from the public services financed by the spectrum royalties. The …This paper uses optimal control theory to derive a desirable trajectory of the number of royalties-paying users of …
Persistent link: https://www.econbiz.de/10010685799
This paper considers a general class of nonlinear rational-expectations models in which policymakers seek to maximize an objective function that may be household expected utility. We show how to derive a target criterion that is 1) consistent with the model's structural equations, 2) strong...
Persistent link: https://www.econbiz.de/10010287062
This paper is concerned with the classic topic of intertemporal resource economics: the optimal harvesting of renewable natural resources over time by one and several resource owners with conflicting interests. The traditional management model, dating back to Plourde (1970), is extended towards...
Persistent link: https://www.econbiz.de/10011140901
This paper is concerned with the classic topic of intertemporal resource economics: the optimal harvesting of renewable natural resources over time by one and several resource owners with conflicting interests. The traditional management model, dating back to Plourde (1970), is extended towards...
Persistent link: https://www.econbiz.de/10011260516
We consider a general adverse selection model as an optimal control problem with mixed constraints. We prove that under broad conditions the optimal contract exists and is continuous.
Persistent link: https://www.econbiz.de/10011206181
We study a Ramsey problem in infinite and continuous time and space. The problem is discounted both temporally and spatially. Capital flows to locations with higher marginal return. We show that the problem amounts to optimal control of parabolic partial differential equations (PDEs). We rely on...
Persistent link: https://www.econbiz.de/10004984891
The special functions are intensively used in mathematical physics to solve differential systems. We argue that their use should be most useful in economic dynamics, notably in the assessment of the transtion dynamics of endogenous growth models. We illustrate our argument on the Lucas-Uzawa...
Persistent link: https://www.econbiz.de/10004984967