This book presents classical Markov Decision Processes (MDP) for real-life applications and optimization. MDP allows users to develop and formally support approximate and simple decision rules, and this book showcases state-of-the-art applications in which MDP was key to the solution approach....

This book provides a straightforward overview for every researcher interested in stochastic dynamic vehicle routing problems (SDVRPs). The book is written for both the applied researcher looking for suitable solution approaches for particular problems as well as for the theoretical researcher...

This paper introduces a democratic voting process into an OLG economyin order to analyze the effects of a rising old-age dependency ratio on the composition ofgovernment spending and endogenous economic growth. Forward-looking agents vote eachperiod on the public policy mix between productive...

This paper exploits data on the pattern of violence across regionsand over time to estimate the impact of the peace process in NorthernIreland on house prices. We begin with a linear model that estimatesthe average treatment effect of a conflict-related killing on house prices-showing a negative...

The Handbook of Simulation Optimization presents an overview of the state of the art of simulation optimization, providing a survey of the most well-established approaches for optimizing stochastic simulation models and a sampling of recent research advances in theory and methodology. Leading...

The Handbook of Simulation Optimization presents an overview of the state of the art of simulation optimization, providing a survey of the most well-established approaches for optimizing stochastic simulation models and a sampling of recent research advances in theory and methodology. Leading...

This survey is devoted to the statistical analysis of duration models and point processes. Thefirst section introduces specific concepts and definitions for single-spell duration models.Section two is devoted to the presentation of conditional duration models which incorporatethe effects of...

Monetary policy is most effective when public beliefs about future policies are activelymanaged. This is the appeal of policy rules and commitment strategies, typically absent underdiscretion. But when a policymaker has some private information — as is the case in reality— belief management...