This paper introduces as an intertemporal variable cost indirect technology which permits technological change over time and allows for financial flexibility, i.e., intertemporal budgeting. It characterizes agencies which maximize outputs or services subject to the budget they face. We define...

This paper introduces an intertemporal variable cost indirect technology which permits technological change over time, as well as allowing for intertemporal financial flexibility. It characterizes firms or agencies which maximize outputs or services subject to a budget constraint. We define...