Skip Navigation



IMA Journal of Management Mathematics Advance Access published online on September 23, 2005
IMA Journal of Management Mathematics, doi:10.1093/imaman/dpi040
This Article
Right arrow Full Text (Rapid PDF)
Right arrow All Versions of this Article:
17/3/245    most recent
dpi040v1
Right arrow Alert me when this article is cited
Right arrow Alert me if a correction is posted
Services
Right arrow Email this article to a friend
Right arrow Similar articles in this journal
Right arrow Alert me to new issues of the journal
Right arrow Add to My Personal Archive
Right arrow Download to citation manager
Right arrowRequest Permissions
Google Scholar
Right arrow Articles by Hritonenko, N.
Right arrow Articles by Yatsenko, Y.
Right arrow Search for Related Content
Social Bookmarking
Add to CiteULike   Add to Connotea   Add to Del.icio.us  
What's this?

© The authors 2005. Published by Oxford University Press on behalf of the Institute of Mathematics and its Applications. All rights reserved.
Received November 2, 2004
Revised May 16, 2005
Accepted August 30, 2005

Article

Optimization of financial and energy structure of productive capital

N. Hritonenko 1* and Y. Yatsenko 2

1 Department of Mathematics, Prairie View A&M University, PO Box 4189, Prairie View, TX 77446-4189, USA
2 College of Business and Economics, Houston Baptist University, 7502 Fondren Road, Houston, TX 77074-3298, USA

* To whom correspondence should be addressed.
N. Hritonenko, E-mail: nahritonenko{at}pvamu.edu


  Abstract

Optimal control of special non-linear Volterra integral equations is used to optimize the structure and lifetime of age-dependent productive capital at an individual enterprise level. The equations describe a multifactor vintage capital model. The optimization problem is to select investment, specific capital cost, specific energy consumption and capital lifetime that maximize net profit on finite and infinite horizons. The structure of optimal trajectories is investigated and relevant relations among technological and financial parameters of the productive capital are established.

Keywords: optimal control; non-linear Volterra integral equations; unknown delay; vintage capital models; endogenous capital lifetime; optimal energy consumption.
Add to CiteULike CiteULike   Add to Connotea Connotea   Add to Del.icio.us Del.icio.us    What's this?




Disclaimer: Please note that abstracts for content published before 1996 were created through digital scanning and may therefore not exactly replicate the text of the original print issues. All efforts have been made to ensure accuracy, but the Publisher will not be held responsible for any remaining inaccuracies. If you require any further clarification, please contact our Customer Services Department.