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The Reproductive Value as Part of the Shadow Price of Population

Gustav Feichtinger, Michael Kuhn, Alexia Fürnkranz-Prskawetz and Stefan Wrzaczek

No 1106, VID Working Papers from Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna

Abstract: The reproductive value (see Fisher 1930) arises as part of the shadow price of the population in a large class of age-structured optimal control models.

Keywords: Reproductive value; distributed optimal control theory; McKendrick equation; shadow price; indirect effect. (search for similar items in EconPapers)
Pages: 10 pages
Date: 2011-04
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