In this study, we extend the single-period newsvendor problem with stochastic demand into a multi-period and time-dependent one and find a solution for it. We analyze the multi-period newsvendor problem with stochastic demand in a Stackelberg framework where the wholesaler is the leader and the...

In this paper, we use probabilistic methods to analyze learning effects in a behavioral experiment on the newsvendor model. We argue why we should believe that suggested orders follow a multinomial logit distribution, and use the single parameter in that model to extract information on learning...

We develop a discretization method for continuous-time bioeconomic models. Based on this method, we develop a discrete-time bioeconomic model to analyze seasonality in fisheries. The discretization method consists of three steps: first, we estimate a proper growth function for the...

Many biological and economic processes in fishery happen seasonally. Most of the extant literature tends to neglect this fact. This work is an initial attempt to treat seasonality in a systematic and proper way. We apply a periodic Bellman approach to obtain the optimal feedback policy of each...

This paper investigates a multi-periodic channel optimization facing uncertain, price dependent, and dynamic demand. The picture of the market uncertainty is incomplete, and only the price and time-dependent mean and standard deviation are known and may depend on the price history. The actual...

This paper demonstrates a predator-prey system of cod and capelin that confronts a possible scenario of prey extinction under the first-best policy in a stochastic world. We discover a novel ‘super-harvest' phenomenon that the optimal harvest of the predator is even higher than the myopic...

We consider an infinite horizon optimization problem with arbitrary but finite periodicity in discrete time. The problem can be formulated as a fix-point problem for a contraction operator, and we provide a solution scheme for this class of problems. Our approach is an extension of the classical...

This study presents a multispecies stochastic model. The model suggests optimal fishing policy for two species in a three species predator prey ecosystem in the Barents Sea. We have employed stochastic dynamic programing to solve a three dimensional model, where catch is optimized by a...

Maximum entropy methods are used to infer the true trip-distribution matrix in cases where parts of the data are suppressed due to privacy concerns. Large proportions of the suppressed data are found to be inferred correctly when the marginal totals in the trip distribution are known....

Road tolls are a well established way of dealing with problems of congestion. Over recent years, the literature has expanded to take account of how congestion charges might interact with imperfections in other markets. In this paper, we consider the case where congestion occurs within a complex...