In this paper, we introduce adoption costs in a canonical vintage capital model. Adoption costs take the form of a direct loss in production during a fixed period of time. We explicitly characterize the optimal machine replacement policy as a function of the adoption period. Using an explicit...

Problem definition: Operators of vehicle sharing systems such as carsharing or ride-hailing might benefit from integrating autonomous vehicles into their fleet. Here, the impact of optimal fleet size and composition on an operator's profitability is not trivial due to the tradeoff between...

The widespread consumer adoption of low-carbon technologies (LCTs) is a cornerstone of net zero targets worldwide, however LCTs may not be equally distributed across socioeconomic characteristics. Our paper contributes to the literature by exploring socioeconomic inequality in LCT adoption and...