It Is Possible to Think of Numerous Economic Problems Involving Dynamic Constrained Optimization Where Dual Representation Exist and Possibly Can Be Characterized. One Example Arises in the Theory of Dynamic Factor Demand And, More Generally, Investment Decisions. Its Duality Structure Has Been...

We study the development of an industry-evolution of capacity, production and prices- in a continuous-time real-options model under various assumptions on competition. Investment takes the form of sequential acquisition of indivisible units of capacity. As benchmarks, we determine the optimal...

It Is Widely Believed That Exhaustible Resource Monopolies Do Not Enjoy As Much Market Power As Standard Non Resource Monopolies, and May Even Produce in a Socially Optimum Way. We Argue That This Paradoxical Result Arises From an Inappropriate Comparison Methodology. When Similar Assumptions...

Although Insurers Face Adverse Selection and Moral Hazard When They Set Insurance Contracts, These Two Types of Asymmetrical Information Have Been Given Separate Treatments Sofar in the Economic Literature. This Paper Is a First Attempt to Integrate Both Problems Into a Single Model. We Show How...

In Recent Years, the Ratio of Inventories to Sales in North America Manufacturing Has Fallen Without the Offsetting Increases in Unfilled Orders Or Price Variation That Are Predicted by Some Theoretical Models. the Explanation Offered Here Is That in the Face of Falling Relative Costs of...

Ce Texte Constitue un Survol des Differentes Approches Destines a Mesurer le Progres Technique. Nous Utilisons une Notation Uniforme Tout au Long des Demonstrations Mathematiques et Nous Faisons Ressortir les Hypotheses Qui Rendent L'application des Methodes Proposees Envisageable et Qui En...