In the article we present some extension for the classical problem of dynamic investment optimization. We take the neoclassical model of growth with one product and many consumption goods. The number of consumption goods can be infinite and the consumption bundle is defined on some abstract,...

We consider an ecosystem management problem where managers can use habitat creation and predator removal to conserve an endangered species. Predator removal may become particularly important in the face of habitat loss, and ecosystem management strategies that ignore the influence of habitat are...

The paper presents mathematical methods of deterministic optimal control in continuous time and stochastic dynamic programming in discrete time, and computational techniques for their implementation in the General Algebraic Modeling System (GAMS). The methods and their computational...

The following description and analysis of a firm in atomistic competition is motivated by the need to specify a dynamic equation of price behavior to be tested on U.S. manufacturing time-series data. It is shown that uncertainty of price information in a market composed of many competing firms...

This paper is concerned with the classic topic of intertemporal resource economics: the optimal harvesting of renewable natural resources over time by one and several resource owners with conflicting interests. The traditional management model, dating back to Plourde (1970), is extended towards...

This paper aims at evaluating the extent to which the defence expenditure of Greece and Cyprus given their arms race against Turkey in the context of the Integrated Defence Doctrine policy constitutes a burden feasible to bear. The evaluation takes place using an Optimal Control solution...

We study optimal experimentation by a monopolistic platform in a two-sided market framework. The platform provider faces uncertainty about the strength of the externality each side is exerting on the other. It maximizes the expected present value of its profit stream in a continuous-time...

The main feature of the penalty schemes described in current sentencing guidelines is that the fine is based on the accumulated gains from cartel activities or price-fixing activities for the firm. The regulations suggest modeling the penalty as an increasing function of the accumulated illegal...

This paper presents a fairly general treatment of recursive infinite horizon forward looking optimizing systems on infinite dimensional spatial domains. It includes optimal control, an analysis of local stability of spatially flat optimal steady states and development of techniques to compute...

We study an economy in which the rate of change of population depends on population policy decisions. This requires population as well as capital as state variables. By showing the algebraic relationship between the shadow price of the population and the shadow price of the per capita capital...