Sectors May Use Multiple Technologies Simultaneously - The Rectangular Choice-of-Technology Model with Binding Factor Constraints
AbstractWe develop the rectangular choice-of-technology model with factor constraints, or RCOT, for analysis of the economy of a single region, or of multiple regions in the context of a model of the world economy. RCOT allows for one or more sectors to operate more than one technology simultaneously, using the relatively lowest-cost one first and adding another if and when the preceding one encounters a binding factor constraint. The model is motivated by the evident fact that oil wells and mineral deposits of different qualities may be exploited simultaneously, as may the use of both primary and recycled sources for the same materials. RCOT generalizes Carter’s choice-of-technology model, which allowed one of two choices to all sectors, for up to q choices and adds the factor constraints that allow several alternatives to operate simultaneously. The Appendix gives a numerical example.
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Bibliographic InfoPaper provided by Rensselaer Polytechnic Institute, Department of Economics in its series Rensselaer Working Papers in Economics with number 1006.
Date of creation: Oct 2010
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Other versions of this item:
- Faye Duchin & Stephen H. Levine, 2011. "Sectors May Use Multiple Technologies Simultaneously: The Rectangular Choice-Of-Technology Model With Binding Factor Constraints," Economic Systems Research, Taylor & Francis Journals, vol. 23(3), pages 281-302, March.
- C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
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- Roxana Juliá & Faye Duchin, 2013. "Land Use Change and Global Adaptations to Climate Change," Sustainability, MDPI, Open Access Journal, vol. 5(12), pages 5442-5459, December.
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