Intertemporal Equity and Hartwick's Rules in an Exhaustible Resource Model

In a standard exhaustible resource model, it is known that if, along a competitive path, investment in the augmentable capial good equals the rents on the exhaustible resource (known as Hartwick's rule), then the path is equitable in the sense that the consumption level is constant over time. In this paper, we show the converse of this result: if a competitive path is equitable, then it must satisfy Hartwick's rule.

Infinite-horizon competitive programs are optimal

optimal programs, competitive conditions, transversality condition, intertemporal decentralization, C61, D90, O41,

Transversality conditions in optimum growth models with or without discounting: a unified view

In the literature on price characterization of optimal paths in stationary models of optimal growth, distinct “transversality conditions” have been presented, depending on whether or not utilities are discounted. In the discounted case, this condition takes the form that asymptotically the presente-value prices converge to zero. In the undiscounted case, however, it is of the form that the present value prices are bounded above along the path. It is shown here that under assumptions that are fairly standard in such problems, this difference is superfluous and the same transversality condition characterizes optimal paths in both the discounted and undiscounted cases.Transversality conditions, growth models, prices.

Optimal and competitive programs in reachable multi sector models

We show that in multi-sector optimal growth models, where the technology satisfies a simple reachability condition, infinite horizon programs which satisfy the competitive conditions are optimal. We provide examples of a variety of production models where the reachability condition is satisfied. An example is also provided where the reachability condition is not satisfied and there are competitive programs which are not optimal. The results of the paper are of interest from the standpoint of decentralization in intertemporal economies.Competitive program, Optimality, Decentralization, Reachability.

Intertemporal Equity and Hartwick's Rule in an Exhaustible Resource Model

In a standard exhaustible resource model, it is known that if, along a competitive path, investment in the augmentable capital good equals the rents on the exhaustible resource (known as Hartwick's rule), then the path is equitable in the sense that the consumption level is constant over time. In this paper, we show the converse of this result: if a competitive path is equitable, then it must satisfy Hartwick's rule. Copyright The editors of the "Scandinavian Journal of Economics", 2005 .

Magnetic Barkhausen emissions and microstructural degradation study in 1.25 Cr–0.50 Mo steel during high temperature exposure

Low alloy steel such as 1.25Cr–0.50 Mo steel is widely used in thermal power plants, petro-chemical industries and fertiliser plants. In recent years considerable attention has been paid to estimate the remaining life of a service-exposed component for effective utilising such components beyond the design life. Although these steels are heat treated to obtain a stable microstructure, microstructural changes such as carbide coarsening, increasing inter lamella spacing, formation of more stable carbides, dissolution of carbides, etc. take place due to prolong service exposure at elevated temperatures. This paper describes the systematic investigation on microstructural changes, changes of composition on carbides and their effect on the magnetic Barkhausen emission parameters. The materials were heat-treated at different temperatures (500–700 °C) for various duration of time (0–1000 h) to get wide variation in microstructure. RMS voltage and pulse height distributions of Barkhausen emissions signal were calculated. A good correlation between MBE parameters and microstructural changes has been found. The study will be useful for the non-destructive evaluation of microstructural degradation of in-service 1.25Cr–0.5Mo steel structure

Preparation of nanodimensional CdS by chemical dipping technique and their characterization

A simple and cost effective chemical technique has been utilized to grow cadmium sulphide (CdS) nanoparticles at room temperature. The sample is characterized with XRD (X-ray diffractometer), SEM (Scanning electron microscope), TEM (Transmission electron microscope) and UV-VIS spectrophotometer. The particle size estimated using X-ray line broadening method is approximately 5 nm. Instrumental broadening was taken into account while particle size estimation. The lattice strain was evaluated using Williamson-Hall equation. SEM illustrates formation of sub-micron size crystallites and TEM image gives particle size approximately between 4-5 nm. Optical absorption study exhibits a band gap energy value of about 2.6 eV