Recent literature on individual decision-making emphasizes the idea that the brain functions as an organization, with the allocation of resources to the development of different cognitive tasks occurring via an agency relation across distinct brain systems. In this note, the mentioned view on...

Increasing renewable generation results in growing supply uncertainty. By now hydrostorages are the most efficient way of smoothing uncertain power supply. In liberalized and competitive markets the valuation of hydro storages investment projects needs to take the market information and...

In order to select a management strategy it is offered by commercial phase portraits of the interaction of managers and employees. Under the conditions of uncertainty of customer orders control function is specified on the basis of decision-making by a modification of the Ramsey model. As...

Despite ‘joy of giving models’ have been extensively examined in the literature, the Ramsey growth model has never been explored under the assumption of a direct preference for bequeathing savings that are reinvested. This assumption implies a Utility function depending on both consumption...

In this paper, we analyze the optimal skill mix in a model with two kinds of imperfectly substitutable labor, skilled and unskilled. The population is characterized by a distribution of innate abilities, and individuals are trained according to optimal rules or market rules (with imperfect...