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On The Application of the Laplace Transform to Certain Economic Problems

Author

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  • Robert W. Grubbström

    (Royal Institute of Technology, Stockholm)

Abstract

During the last thirty years, the method of the Laplace transform has found an increasing number of applications in the fields of physics and technology. In this article the author points out the possibility of solving problems in the area of discounting with the aid of this method. Without any loss of general validity, it is shown that a discount factor can always be written in an exponential manner which implies that the present value of a cash-flow will obtain a very simple form in the Laplace terminology. This simplicity holds good for stochastic as well as for deterministic economic processes, and the results mentioned below should, therefore, be of immediate use when applied, e.g., to investment problems.

Suggested Citation

  • Robert W. Grubbström, 1967. "On The Application of the Laplace Transform to Certain Economic Problems," Management Science, INFORMS, vol. 13(7), pages 558-567, March.
    • Handle: RePEc:inm:ormnsc:v:13:y:1967:i:7:p:558-567
    DOI: 10.1287/mnsc.13.7.558
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    Cited by:

    1. Robert Grubbstrom & Ou Tang, 2000. "An Overview of Input-Output Analysis Applied to Production-Inventory Systems," Economic Systems Research, Taylor & Francis Journals, vol. 12(1), pages 3-25.
    2. Miroslav Verbic, 2004. "Econometric Estimation of Parameters of Preservation of Perishable Goods in Cold Logistic Chains," Econometrics 0409002, University Library of Munich, Germany.
    3. Miroslav Verbic, 2006. "Discussing the parameters of preservation of perishable goods in a cold logistic chain model," Applied Economics, Taylor & Francis Journals, vol. 38(2), pages 137-147.

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