The disastrous events of 2011—an earthquake and a nuclear accident, a major accounting scandal at a well-known company, and an unusual current account deficit—have brought Japan back into the international news. Although China and other countries in Asia have grown faster and gained greater...

We consider a simple model of a pump-assisted hydroelectric facility operating in a market with time-varying but deterministic power prices and constant water inflows. The engineering details of the facility are described by a model containing several parameters. We present an algorithm for...