A note on the theory of investment: Hotelling's rule under process independence
AbstractThis 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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Bibliographic InfoPaper provided by Umeå University, Department of Economics in its series Umeå Economic Studies with number 752.
Length: 5 pages
Date of creation: 10 Oct 2008
Date of revision:
Publication status: Published in Letters in Spatial and Resource Sciences, 2010.
Contact details of provider:
Postal: Department of Economics, Umeå University, S-901 87 Umeå, Sweden
Phone: 090 - 786 61 42
Fax: 090 - 77 23 02
Web page: http://www.econ.umu.se/
More information through EDIRC
Hotelling's rule; capital investment and process independence;
Other versions of this item:
- Chuan-Zhong Li & Karl-Gustaf Löfgren, 2010. "A note on the theory of investment: Hotelling’s rule under process independence," Letters in Spatial and Resource Sciences, Springer, vol. 3(2), pages 55-60, July.
- D10 - Microeconomics - - Household Behavior - - - General
- Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
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- Kenneth Arrow & Partha Dasgupta & Karl-Göran Mäler, 2003.
"Evaluating Projects and Assessing Sustainable Development in Imperfect Economies,"
2003.109, Fondazione Eni Enrico Mattei.
- Kenneth Arrow & Partha Dasgupta & Karl-Göran Mäler, 2003. "Evaluating Projects and Assessing Sustainable Development in Imperfect Economies," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 26(4), pages 647-685, December.
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