A note on the theory of investment: Hotelling’s rule under process independence

• 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.

Ämnesord

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business -- Economics (hsv//eng)

Nyckelord

Hotelling's rule

capital pricing

dynamic welfare

SOCIAL SCIENCES

SAMHÄLLSVETENSKAP

Economics

Nationalekonomi

Economics

Economics

Publikations- och innehållstyp

ref (ämneskategori)

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