In this paper, we study a vintage technology model under a market equilibrium setting. In this model, firms can invest not only on new vintage technology, but also on existing ones. We first generalize previous partial equilibrium settings and, second, incorporate the adoption problem into a vintage framework. © 2006 Elsevier B.V. All rights reserved.
Zou, B. (2006). Vintage technology, optimal investment and technology adoption. Economic Modelling, 23(3), 515–533. https://doi.org/10.1016/j.econmod.2006.02.005