Telecommunication networks are characterised by a complex group of intermediaries and each one of them faces two types of operational costs: transmission costs and delivery cost. This scheme allows the operator to evaluate the market structure and to perform the telecommunication service. The...

We consider a stochastic optimization problem of maximizing the expected utility from terminal wealth in an illiquid market. A discrete time model is constructed with few additional state variables. The dynamic programming approach is then developed and used for numerical studies. No-arbitrage...

Previous research on optimal R&D subsidies has focussed on the long run. This paper characterizes the optimal time path of R&D subsidization in a semi-endogenous growth model, by exploiting a recently developed numerical method. Starting from the steady state under current R&D subsidization in...

The shift from centralized to decentralized energy provision has created an opportunity for a wide range of distributed energy resources. In deciding how to best serve their long-term energy needs, end consumers face a plethora of investment options together with complex regulatory instruments...

In der Aussenhandelstheorie wird das Angebot und die Nachfrage mit Hilfe der Dualitaetstheorie abgebildet. Dabei wird auf nationaler Ebene das Problem der Erloesmaximierung untersucht, wobei die nationalen Faktorbestaende und die Produktionstechnologien der einzelnen Unternehmen gegeben sind....