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A note on the theory of investment: Hotelling's rule under process independence

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Author Info
Li, Chuan-Zhong () (Department of Economics, Uppsala University)
Löfgren , Karl-Gustaf () (Department of Economics, Umeå University)

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Abstract

This note shows that the welll-known Hotelling rule holds for a wider class of capital investment projects with a property of process independence. Optimality behavior is therefore not a necessary condition for deriving the result.

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File URL: http://www.econ.umu.se/ues/ues752.pdf
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Publisher Info
Paper provided by Umeå University, Department of Economics in its series Umeå Economic Studies with number 752.

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Length: 5 pages
Date of creation: 10 Oct 2008
Date of revision:
Handle: RePEc:hhs:umnees:0752

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Postal: Department of Economics, Umeå University, S-901 87 Umeå, Sweden
Phone: 090 - 786 61 42
Fax: 090 - 77 23 02
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Web page: http://www.econ.umu.se/
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Related research
Keywords: Hotelling's rule; capital investment and process independence;

Find related papers by JEL classification:
D10 - Microeconomics - - Household Behavior - - - General
Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General

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