An energy analysis of the investment problem

The central planning model presented here generates optimal resource utilization and investment paths in the case where there is substitution between new and old capital, and where the resource input to capital is decreasing with time. Solutions to the model are found to have a straightforward inter...

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Bibliographic Details
Published in:Energy economics 1979-10, Vol.1 (4), p.219-223
Main Author: Greenman, J.V.
Format: Article
Language:English
Subjects:
Energy economics
Methodology
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Summary:The central planning model presented here generates optimal resource utilization and investment paths in the case where there is substitution between new and old capital, and where the resource input to capital is decreasing with time. Solutions to the model are found to have a straightforward interpretation in terms of energy analysis. Application of the model to a one-sector, one-resource case identifies bounds on the rates of both investment and resource utilization. These bounds are compared with those suggested by other models.
ISSN:0140-9883
1873-6181
DOI:10.1016/0140-9883(79)90004-5