The Reproductive Value in Distributed Optimal Control Models
AbstractWe show that in a large class of distributed optimal control models (DOCM), where population is described by a McKendrick type equation with an endogenous number of newborns, the reproductive value of Fisher shows up as part of the shadow price of the population. Depending on the objective function, the reproductive value may be negative. Moreover, we show results of the reproductive value for changing vital rates. To motivate and demonstrate the general framework, we provide examples in health economics, epidemiology, and population biology.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna in its series Working Papers with number 0906.
Length: 20 pages
Date of creation: Jun 2009
Date of revision:
Contact details of provider:
Web page: http://www.oeaw.ac.at/vid/
Reproductive value; distributed optimal control theory; McKendrick; shadow price; indirect effect; health economics; epidemiology; population biology.;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-09-19 (All new papers)
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Theresa Grafeneder-Weissteiner & Klaus Prettner, 2010.
"Agglomeration processes in aging societies,"
Department of Economics Working Papers
wuwp131, Vienna University of Economics, Department of Economics.
- Bilal Barakat & Johannes Holler & Klaus Prettner & Julia Schuster, 2010. "The Impact of the Economic Crisis on Labour and Education in Europe," Working Papers 1006, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.
- Klaus Prettner & Alexia Prskawetz, 2010. "Demographic Change in Models of Endogenous Economic Growth. A Survey," Working Papers 1008, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Frank Kolesnik).
If references are entirely missing, you can add them using this form.