Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/96949
Authors: 
Wrzaczek, Stefan
Kuhn, Michael
Prskawetz, Alexia
Feichtinger, Gustav
Year of Publication: 
2009
Series/Report no.: 
Vienna Institute of Demography Working Papers 4/2009
Abstract: 
We show that in a large class of distributed optimal control models (DOCM), where population is described by a McKendrick type equation with an endogenous number of newborns, the reproductive value of Fisher shows up as part of the shadow price of the population. Depending on the objective function, the reproductive value may be negative. Moreover, we show results of the reproductive value for changing vital rates. To motivate and demonstrate the general framework, we provide examples in health economics, epidemiology, and population biology.
Subjects: 
Reproductive value
distributed optimal control theory
McKendrick
shadow price
indirect effect
health economics
epidemiology
population biology
Document Type: 
Working Paper

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