Dynamic programming is an optimization system method or its mathematical representation, operating in phases, in other words, decisions are made sequentially. In many situations the available information is not homogeneous, this is objective data and uncertain one. In these cases, the use of...

This paper presents a dynamic principal-agent model of aquatic species invasions in which a manager, concerned about the spread of invasive species across lakes by boaters, sets interseasonal management controls on a lake-by-lake basis, and boaters make a series of intraseasonal trip decisions...

[ES] La programación dinámica es un método de optimización de sistemas o de su representación matemática, donde se opera por fases, es decir, las decisiones se toman en forma secuencial.

A novel technique for solving a dynamic optimal chiller loading problem is presented. This method reduces the complexity of the dynamic problem by considering all chillers to be a single, optimal chiller, which significantly reduces the number of decision variables. A static optimal chiller...

Public policies intended to induce behavioral change, specifically incentives to reduce interpersonal contacts or to “social distance,” increasingly play a prominent role in public disease response strategies as governments plan for and respond to major epidemics. I compare social distancing...

A theory of payment for ecosystem services (PES) pricing consistent with dynamic efficiency and sustainable income requires optimized shadow prices. Since ecosystem services are generally interdependent, this requires joint optimization across multiple resource stocks. We develop such a theory...

This paper studies monopoly extraction of a nonrenewable resource with the presence of a competitively supplied capacity constrained renewable substitute. The monopolist staves off the renewable supply when the latter becomes competitive and then lets the resource price jump up.