3 problems

Consider the investment model in which at most two technologies are available, with technological breakthroughs and market conditions as described in the paper. Multiple-innovation…

Let $X$ be the market-condition process with inaccessible lower endpoint $\alpha$, let $M$ be its running maximum, and let $V(x,m)$ be the value function on the state space…

Let $X$ be the market-condition process, let $M$ be its running maximum, and let $V(x,m)$ be the value function. Let $b(m)$ denote the free boundary, with $min[underline m,\beta)$,…