Caulkins, Jonathan P.; Hartl, Richard F.; Kort, Peter M. Delay equivalence in capital accumulation models. (English) Zbl 1232.91377 J. Math. Econ. 46, No. 6, 1243-1246 (2010). Summary: We study delays in capital accumulation models. Our contribution is threefold. First, we identify a class of models that can be transformed into standard optimal control models without delay. Second, in the single state versions of these models the state trajectory is monotonic in the optimal solution. This is noteworthy given the common belief that adding delays facilitates oscillatory behavior of capital, output and investment. Third, we identify an equivalence result between time-to-install/deliver problems and time-to-build problems. Cited in 1 Document MSC: 91B38 Production theory, theory of the firm 49N90 Applications of optimal control and differential games 91G50 Corporate finance (dividends, real options, etc.) Keywords:capital accumulation; delayed response; time-to-build; time-to-install/deliver; optimal control PDFBibTeX XMLCite \textit{J. P. Caulkins} et al., J. Math. Econ. 46, No. 6, 1243--1246 (2010; Zbl 1232.91377) Full Text: DOI References: [1] Bambi, M., Fabbri, G., Gozzi, F., 2009. Optimal policy and consumption smoothing effects in the time-to-build AK model. Working Paper.; Bambi, M., Fabbri, G., Gozzi, F., 2009. Optimal policy and consumption smoothing effects in the time-to-build AK model. Working Paper. · Zbl 1246.91082 [2] Benhabib, J.; Rustichini, A., Vintage capital, investment, and growth, Journal of Economic Theory, 55, 323-339 (1991) · Zbl 0754.90007 [3] Hartl, R. F., A simple proof of the monotonicity of the state trajectories in autonomous control problems, Journal of Economic Theory, 41, 211-215 (1987) [4] Hartl, R.F., Kort, P.M., 2010. Delay in Finite Time Capital Accumulation. Central European Journal of Operations Research, forthcoming; DOI:10.1007/s10100-010-0170-7.; Hartl, R.F., Kort, P.M., 2010. Delay in Finite Time Capital Accumulation. Central European Journal of Operations Research, forthcoming; DOI:10.1007/s10100-010-0170-7. · Zbl 1206.91052 This reference list is based on information provided by the publisher or from digital mathematics libraries. Its items are heuristically matched to zbMATH identifiers and may contain data conversion errors. In some cases that data have been complemented/enhanced by data from zbMATH Open. This attempts to reflect the references listed in the original paper as accurately as possible without claiming completeness or a perfect matching.