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Modeling and Optimization of the Lifetime of Technologies (Hardcover, 1996 ed.)
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Modeling and Optimization of the Lifetime of Technologies (Hardcover, 1996 ed.)
Series: Applied Optimization, 4
Expected to ship within 10 - 15 working days
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Modern economic growth is characterized by structural changes based
on the introduction of new technologies into economics. The
replacement and renova tion of technologies in industrial
environments undergoing technical change is clearly one of the key
aspects of economic development. The mathematical modeling of
evolutionary economics under technical change (TC) has been
rigorously considered by many authors during last decades. There is
a wide variety of economic approaches and models describing
different aspects of technical change. Among these are the models
of embodied technical progress [19], [35], [70], [129], endogenous
growth models [94], [102], the models of technological innovations
[31], [32], [41], and others. The perspective self organization
evolutionary approach is developed in [20], [38], [122], [123],
[124], [126], which unites the aspects of diffusion of new
technologies, technological and behavioral diversity of firms,
learning mechanisms, age-dependent effects, and other important
features of real-life economics. On the whole, an interest in
evolutionary economics has brought considerable progress in the
description and conceptualization of the sources, characteristics,
direction and effects of technical change [125]. However, the
modeling and control of technology lifetime under technical change
has received rather little attention in mathematical economics in
con trary to other aspects of technical progress. The lifetime of
technologies has rarely been formally treated as a part of more
general mathematical theory of economic dynamics. A problem which
is still to be resolved consists in establishing the rational
strategies of technologies' replacement under various assumptions
on the behavior of technical change.
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