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A Note on the theory of investment: Hotelling’s rule under process independence
Nationalekonomiska Institutionen Uppsala Universitet.
Umeå University, Faculty of Social Sciences, Department of Economics.
2010 (English)In: Letters of Spatial and Resource Sciences, Vol. 3, no 2, 55-60 p.Article in journal (Refereed) Published
Abstract [en]

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
Springer , 2010. Vol. 3, no 2, 55-60 p.
Keyword [en]
Hotelling’s rule, Capital pricing, Dynamic welfare
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URN: urn:nbn:se:umu:diva-26828DOI: 10.1007/s12076-010-0035-7OAI: diva2:274256
Available from: 2009-10-27 Created: 2009-10-27 Last updated: 2012-10-10Bibliographically approved

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Löfgren, Karl-Gustaf
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ReferencesLink to record
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