Effects of endogenous depreciation on the optimal timing of technology adoption

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In this thesis, we use two stage optimal control techniques to analyze optimal
timing of technology adoption under embodied technical change taking into ac-
count the endogenous nature of depreciation. We show that a more efficient
maintenance service reducing the depreciation rate postpones the optimal timing
of technology adoption. In this respect, we study to what extent can maintenance
of the existing capital stock be a substitute for adoption of new technologies.

Ramazan Karaşahin
Effects of endogenous depreciation on the optimal timing of technology adoption · 2006 · 39 sayfa.
Danışman: Y.Doç.Dr. Hüseyin Çağrı Sağlam

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