Abstract: This paper considers a firm that has the option to undertake product innovations. For each product innovation the firm has to install a new production plant. We find that investments are larger and occur in a later stadium when more of the old capital stock needs to be scrapped....

This paper considers a class of optimal control problems that allows jumps in the state variable. We present the necessary optimality conditions of the Impulse Control Maximum Principle based on the current value formulation. By reviewing the existing impulse control models in the literature, we...

The start-up of continuous biohydrogen fermentations is a complex procedure and a key to acceptable hydrogen production performance and successful long-term operation. In this review article, the experiences gained and lessons learned from relevant literature studies dealing with various aspects...

This paper considers a class of optimal control problems that allows jumps in the state variable. We present the necessary optimality conditions of the Impulse Control Maximum Principle based on the current value formulation. By reviewing the existing impulse control models in the literature, we...

Stability and efficiency are two important considerations in deriving good numerical methods for ODEs. The underlying challenge is to increase the stability region while maintaining or even improving efficiency. In this paper, we consider this problem within the context of parallel solution...