We study the two-staged fixed orientation constrained two-dimensional two-staged cutting stock problem. We solve the problem using several approximate algorithms, that are mainly based upon a strip generation procedure (HESGA) already developed in ([13)]. We evaluate the performance of these...

The optimal stopping problem for the risk process with interests rates and when claims are covered immediately is considered. An insurance company receives premiums and pays out claims which have occured according to a renewal process and which have been recognized by them. The capital of the...

We study general dynamic programming problems with continuous and discrete choices and general constraints. The value functions may have kinks arising (1) at indifference points between discrete choices and (2) at constraint boundaries. Nevertheless, we establish a general envelope theorem:...

The aim of this study is to determine optimal migration policies for an individual of known age-dependent mortality who accumulates capital by compound interest and also by skill-dependent income. By a continuing choice of several environments, which vary in intrinsic preference and in the rates...

This paper proposes a dynamic life cycle model of health risks, employment, early retirement, and wealth accumulation in order to analyze the health-related risks of consumption and old age poverty. In particular, the model includes a health process, the interaction between health and employment...

This paper proposes a dynamic life cycle model of health risks, employment, early retirement, and wealth accumulation in order to analyze the health-related risks of consumption and old age poverty. In particular, the model includes a health process, the interaction between health and employment...

We evaluate the actual effectiveness of disincentives that have been introduced for early retirement in Germany. Therefore, we set up a detailed model of the German social security and tax system with special attention to the PAYG-pension system. Building on the fact that the institutional...

Bioenergy is a major source of energy in developing countries. However, increasing demand for agricultural commodities can lead to a stronger competition for natural resources with the bioenergy production. The nexus among energy, food production and natural resource use may result in trade-offs...

Based on a dynamic life cycle model, this study analyzes health-related risks of consumption and old-age poverty. The model allows for health effects on employment risks, on productivity, on longevity, the correlation between health risks, productivity and preferences, and the financial...