Chakravorty, Ujjayant (contributor); … - 2006
backstop resource at each time t as follows:
{ } -+
¥ -
= 0 i
t
riy;2,1i,x dte}yc)yx(u{Max
i
r (3)
subject to (1 … complimentary slackness conditions are
2,1i,0x,0x,0 iiii ==‡‡ gg (8)
0y,0y,0 rr =‡‡ gg , (9)
0)ZZ(,0ZZ,0 … =-‡-‡ nn . (10)
Finally, the transversality conditions are
7
2,1i,0)t(Xlim)t(X)t(elim it0iiitt === ¥›-¥› llr …