A note on the theory of investment: Hotelling’s rule under process independence
2010 (English)In: Letters in Spatial and Resource Sciences, ISSN 1864-4031, Vol. 3, 55-60 p.Article in journal (Refereed) Published
This note shows that the well-known Hotelling rule holds for a wider class of capital investment projects satisfying the property of process independence. Optimality behavior is therefore not a necessary condition for deriving the result.
Place, publisher, year, edition, pages
2010. Vol. 3, 55-60 p.
Hotelling's rule, capital pricing, dynamic welfare
Research subject Economics
IdentifiersURN: urn:nbn:se:uu:diva-132418DOI: 10.1007/s12076-010-0035-7OAI: oai:DiVA.org:uu-132418DiVA: diva2:357848