Optimal Control of Investment, Level of Employment and Stockkeeping
Numerical simulations of microeconomic processes usually suffer from poor models and therefore often can not exhibit real phenomenons. We present a new, very complex model of an enterprise — deduced from the model of Lesourne at al. (1978) and Feichtinger at al. (1986), see Koslik et al. (1993) — including own capital distributed among the enterprise (part X) and alternative capital assets (part X m ), outside capital Y, level of employment L a stock S and a submodel with production and selling. The interest rate for outside capital ρk and the interest rate for alternative own capital assets ρ m are taken from the real values of the last ten years (May 1983 to May 1993)2. For the inflation i we take i := ρ m −0.05. For the own capital X the management of the enterprise has to pay a risk premium ρr,1X or ρr,2X dependend on the risk of the business.
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