Optimal Duration and Speed in the Long Run
研究企业同时决定资本使用速度和持续时间以最小化成本，推导出持续时间与规模报酬、替代弹性等参数的关系，并验证了已有研究的结论。
The duration of employment has been studied by Betancourt and Clague (1981), Winston and McCoy (1974) and Betancourt (1986). Results obtained, summarized in Section 3 below, supposed homotheticity of production functions and a constant speed or intensity of capital usage. The simultaneous cost minimising determination of speed and duration is studied here with an explicit analytical expression being developed relating duration to parameters of interest, including returns to scale and the substitution elasticity, both traditionally measured. The propositions of Betancourt, Clague and Winston and McCoy are then established using differential analysis.