In this paper we consider the optimal impulse control of a system which evolves randomly in accordance with a homogeneous diffusion process in ℜ<Superscript>1</Superscript>. Whenever the system is controlled a cost is incurred which has a fixed component and a component which increases with the magnitude of the control...</superscript>

The noncooperative multi-leader-follower game can be formulated as a generalized Nash equilibrium problem where each player solves a nonconvex mathematical program with equilibrium constraints. Two major deficiencies exist with such a formulation: One is that the resulting Nash equilibrium may...