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Investment Under Vanishing Uncertainty Due to Information Arriving Over Time
van Damme, Eric; Huisman, Kuno; Kort, Peter; Thijssen, … - Tilburg University, Center for Economic Research - 2001
Persistent link: https://www.econbiz.de/10011091037
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Introducing CO2 Allowances, Higher Prices For All Consumers; Higher Revenues For Whom?
Gurkan, G.; Langestraat, R.; Ozdemir, O. - Tilburg University, Center for Economic Research - 2013
Abstract Introducing a ceiling on total carbon dioxide (CO2) emissions and allowing polluting industries to buy and sell permits to meet it (known as a cap-and-trade system) affects investment strategies, generation quantities, and prices in electricity markets. In this paper we analyze these...
Persistent link: https://www.econbiz.de/10011090469
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Modeling And Analysis Of Renewable Energy Obligations And Technology Bandings In the UK Electricity Market
Gurkan, G.; Langestraat, R. - Tilburg University, Center for Economic Research - 2013
Keywords: investment modeling in electricity markets, energy policy, renewable energy obligations, green certificates, technology bandings, perfect competition equilibrium
Persistent link: https://www.econbiz.de/10011092350
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Optimal Management and Differential Games in the Presence of Threshold Effects - The Shallow Lake Model
Schumacher, Johannes M.; Engwerda, Jacob; Reddy, P.V. - Tilburg University, Center for Economic Research - 2012
Abstract: In this article we analyze how the presence of thresholds influences multi agent decision making situations. We introduce a class of discounted autonomous optimal control problems with threshold effects and discuss tools to analyze these problems. Later, using these results we...
Persistent link: https://www.econbiz.de/10011090441
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An Impulse Control Approach to Dike Height Optimization (Revised version of CentER DP 2011-097)
Brekelmans, Ruud; Den Hertog, Dick; Kort, Peter; Chahim, M. - Tilburg University, Center for Economic Research - 2012
Abstract: This paper determines the optimal timing of dike heightenings as well as the corresponding optimal dike heightenings to protect against floods. To derive the optimal policy we design an algorithm based on the Impulse Control Maximum Principle. In this way the paper presents one of the...
Persistent link: https://www.econbiz.de/10011090839
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The Deterministic Impulse Control Maximum Principle in Operations Research : Necessary and Sufficient Optimality Conditions (replaces CentER DP 2011-052)
Kort, Peter; Chahim, M.; Hartl, R.F. - Tilburg University, Center for Economic Research - 2011
This paper considers a class of optimal control problems that allows jumps in the state variable. We present the necessary optimality conditions of the Impulse Control Maximum Principle based on the current value formulation. By reviewing the existing impulse control models in the literature, we...
Persistent link: https://www.econbiz.de/10011090959
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A Resource-Constrained Optimal Control Model for Crackdown on Illicit Drug Markets
Kort, Peter; Baveja, A.; Feichtinger, G.; Hartl, R.F.; … - Tilburg University, Center for Economic Research - 1999
In this paper we present a budget-constrained optimal control model aimed at finding the optimal enforcement profile for a street-level, illicit drug crackdown operation. The objective is defined as minimizing the number of dealers dealing at the end of the crackdown operation, using this as a...
Persistent link: https://www.econbiz.de/10011091068
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Product Innovation with Lumpy Investment
Kort, Peter; Chahim, M.; Grass, D.; Hartl, R.F. - Tilburg University, Center for Economic Research - 2012
Abstract: This paper considers a firm that has the option to undertake product innovations. For each product innovation …
Persistent link: https://www.econbiz.de/10011091584
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Numerical Algorithms for Deterministic Impulse Control Models with Applications
Grass, D.; Chahim, M. - Tilburg University, Center for Economic Research - 2012
Abstract: In this paper we describe three different algorithms, from which two (as far as we know) are new in the literature. We take both the size of the jump as the jump times as decision variables. The first (new) algorithm considers an Impulse Control problem as a (multipoint) Boundary Value...
Persistent link: https://www.econbiz.de/10011092493
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Learning, Inflation Reduction and Optimal Monetary Policy
Schaling, E. - Tilburg University, Center for Economic Research - 2003
which the central bank has to learn the private sector inflation forecasting rule.Here, the learning scheme we investigate … is that of least-squares learning (recursive OLS) using the Kalman filter.With imperfect knowledge, results depend on the … learning scheme that is employed.A novel feature of the passive learning policy - compared to the central bank s disinflation …
Persistent link: https://www.econbiz.de/10011090607