Search Results - subject:"dynamic programming"

Forward-Looking Decision Making : Dynamic Programming Models Applied to Health, Risk, Employment, and Financial Stability

Hall, Robert E. - 2010

-Looking Decision Making is about modeling this individual or family-based decision making using an optimizing dynamic programming model … elasticity of substitution, the Frisch elasticity of labor supply, and the Frisch cross-elasticity. He then examines dynamic … programming models applied to health spending, long-term care insurance, employment, entrepreneurial risk-taking, and consumer …

Persistent link: https://www.econbiz.de/10014488002

On Solving the Multirotational Timber Harvesting Problem with Stochastic Prices : A Linear Complementarity Formulation

Insley, Margaret C.; Rollins, Kimberly S. - 2010

This article develops a two-factor real options model of the harvesting decision over infinite rotations assuming a known stochastic price process and using a rigorous Hamilton-Jacobi-Bellman methodology. The harvesting problem is formulated as a linear complementarity problem that is solved...

Persistent link: https://www.econbiz.de/10014061113

Living with the Curse of Dimensionality : Closed-Loop Optimization in a Large-Scale Fisheries Simulation Model

Woodward, Richard T.; Wui, Yong-Suhk; Griffin, Wade L. - 2010

Facilitated by remarkable increases in computational speed, simulation models are becoming more and more complex and are being increasingly used in applied economic analysis. However, computational limitations remain a major barrier to the study of dynamically optimal policies. We study the...

Persistent link: https://www.econbiz.de/10014061157

Retailer dynamic pricing and ordering decisions : category management versus brand-by-brand approaches

Hall, Joseph M.; Kopalle, Praveen K.; Krishna, Aradhna - In: Journal of retailing 86 (2010) 2, pp. 172-183

Persistent link: https://www.econbiz.de/10003988227

Production and Inventory Management with Substitutions

Lang, J. Christian - 2010

Production and Operations Management: Models and Algorithms -- Graphical Modeling of Substitutions and Flexible Bills-of-Materials -- Literature Review -- Efficient Reformulations for Uncapacitated and Capacitated Lot-Sizing with Substitutions and Initial Inventories -- MIP-Based Heuristics for...

Persistent link: https://www.econbiz.de/10013522775

Dynamic Optimization and Differential Games

Friesz, Terry L. - 2010

Nonlinear Programming and Discrete-Time Optimal Control -- Foundations of the Calculus of Variations and Optimal Control -- Infinite Dimensional Mathematical Programming -- Finite Dimensional Variational Inequalities and Nash Equilibria -- Differential Variational Inequalities and Differential...

Persistent link: https://www.econbiz.de/10013522836

Heterogeneous Returns to Human Capital and Dynamic Self-Selection

Belzil, Christian; Hansen, Jörgen - 2001

We estimate a structural dynamic programming model of schooling decisions and obtain individual specific estimates of …

Persistent link: https://www.econbiz.de/10010262476

VALUING AGRICULTURAL MORTGAGE-BACKED SECURITIES

Stokes, Jeffrey R.; Brinch, Brian M. - In: Journal of Agricultural and Applied Economics 33 (2001) 03

A model to value Federal Agricultural Mortgage Corporation (Farmer Mac) agricultural mortgage-backed securities (AMBS) is developed and numerically solved. The results suggest prepayment penalties currently being used by Farmer Mac reduce yields on AMBS considerably. Even with prepayment...

Persistent link: https://www.econbiz.de/10005513917

Sole Ownership and Common Property Under Management Flexibility: Valuation, Optimal Exploitation and Regulation

Murillas Maza, Arantza - Departamento de Economía Aplicada III (Econometría y … - 2001

If one were to examine the institutional configurations under which real world fisheries operate, one would find virtually no fisheries operating under either pure open access or rent maximizing conditions. Instead, most of the world's most important fisheries operate under common property,...

Persistent link: https://www.econbiz.de/10005518739

STRATEGIES FOR CONTROLLING WEEDS IN NATURAL ECOSYSTEMS: A DYNAMIC OPTIMISATION APPROACH

Odom, Doreen I.S.; Cacho, Oscar J.; Sinden, Jack A.; … - Australian Agricultural and Resource Economics Society … - 2001

. A deterministic dynamic programming model is developed for this purpose in this paper. A simulation model, which … in the dynamic program. The dynamic programming model contains these two state variables and five control variables. The …

Persistent link: https://www.econbiz.de/10010917794