TERMINAL-YEAR INVESTMENT IN FINITE-HORIZON PL~l\TNING MODELS

Richard Porter
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Richard Porter: University of Michigan

The Pakistan Development Review, 1970, vol. 10, issue 2, 272-280

Abstract: PORTERA common problem of finite-horizon planning models is that there is no logical determinant of investment in the final year (s). Where post-horizon production is not valued by a model, later-year investment, whose sole function is creation of capacity for post-horizon output, looks as incongruous as last rites for an atheist. A number of artificial devices have been developed to handle this difficultyl, but one predominates: to assume that terminal-year investment is a function of terminal-year output.

Date: 1970
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