Delay equivalence in capital accumulation models

J.P. Caulkins, R.F. Hartl, P.M. Kort

Research output: Contribution to journalArticleScientificpeer-review

3 Citations (Scopus)


Abstract We study delays in capital accumulation models. Our contribution is threefold. First, we identify a class of models that can be transformed into standard optimal control models without delay. Second, in the single state versions of these models the state trajectory is monotonic in the optimal solution. This is noteworthy given the common belief that adding delays facilitates oscillatory behavior of capital, output and investment. Third, we identify an equivalence result between time-to-install/deliver problems and time-to-build problems.
Original languageEnglish
Pages (from-to)1243-1246
JournalJournal of Mathematical Economics
Issue number6
Publication statusPublished - 2010


Dive into the research topics of 'Delay equivalence in capital accumulation models'. Together they form a unique fingerprint.

Cite this