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首页> 外文期刊>Optimal Control Applications and Methods >The testable implications of a capital-accumulating, price-taking, vertically integrated, non-renewable resource extracting model of the firm
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The testable implications of a capital-accumulating, price-taking, vertically integrated, non-renewable resource extracting model of the firm

机译:公司的资本积累,价格接受,垂直整合,不可再生资源提取模型的可检验含义

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摘要

An exhaustive set of refutable implications of a price-taking, capital-accumulating, vertically integrated Hotelling model is derived by way of intertemporal duality theory. The curvature properties of the model come in the form of a semidefinite matrix, and an upper bound to the rank of the matrix is established. The theorems, for the first time, permit one to determine if a given sample of data is fully consistent with the generalized Hotelling model, as well as the recovery of theoretically valid estimates of the shadow values of non-renewable resource and capital stocks. The testable implications of the model go beyond those of the archetypal Hotelling and adjustment cost models, and as such, display several properties not present in the prototype models.
机译:通过跨期对偶理论,得出了价格接受,资本积累,垂直整合的Hotelling模型的详尽的可辩驳的含义。模型的曲率特性采用半定矩阵的形式,并确定了矩阵秩的上限。该定理首次允许人们确定给定的数据样本是否与广义Hotelling模型完全一致,以及确定不可再生资源和资本存量影子值的理论上有效的估计。该模型的可检验含义超出了原型霍特林模型和调整成本模型的含义,因此显示了原型模型中不存在的一些属性。

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