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Notes on the Economics of Energy Storage

Heal, Geoffrey - 2016

The increasing importance of intermittent renewable energy sources suggests a growing importance for energy storage as a way of smoothing the variable output. In this paper I investigate factors affecting the amount of energy storage needed, including the degree of intermittency and the...

Persistent link: https://www.econbiz.de/10012455928

Optimal Dynamic R&D Programs

Grossman, Gene M. - 1985

We study the optimal pattern of outlays for a single firm pursuing an R&D program over time. In the deterministic case, (a) the amount of progress required to complete the project is known, and (b) the relationship between outlays and progress is known. In this case, it is optimal to increase...

Persistent link: https://www.econbiz.de/10012477422

Dynamic Optimization in Two-Party Models

McKibbin, Warwick J. - 1987

The goal of this paper is to study the problem of optimal dynamic policy formulation with competing political parties. We study a general class of problems, in which the two competing political parties have quadratic intertemporal objective functions, and in which the economy has a linear...

Persistent link: https://www.econbiz.de/10012476856

Nonlinear Programming Method for Dynamic Programming

Cai, Yongyang - 2013

A nonlinear programming formulation is introduced to solve infinite horizon dynamic programming problems. This extends the linear approach to dynamic programming by using ideas from approximation theory to avoid inefficient discretization. Our numerical results show that this nonlinear...

Persistent link: https://www.econbiz.de/10012459628

Solving Dynamic Programming Problems on a Computational Grid

Cai, Yongyang - 2013

We implement a dynamic programming algorithm on a computational grid consisting of loosely coupled processors, possibly including clusters and individual workstations. The grid changes dynamically during the computation, as processors enter and leave the pool of workstations. The algorithm is...

Persistent link: https://www.econbiz.de/10012459947

Dynamic Programming on a Quantum Annealer : Solving the RBC Model

Fernández-Villaverde, Jesús; Hull, Isaiah J. - National Bureau of Economic Research - 2023

We introduce a novel approach to solving dynamic programming problems, such as those in many economic models, on a quantum annealer, a specialized device that performs combinatorial optimization. Quantum annealers attempt to solve an NP-hard problem by starting in a quantum superposition of all...

Persistent link: https://www.econbiz.de/10014322714

Stochastic Regime Switching and Stabilizing Policies within Regimes

Lewis, Karen K. - 1995

This paper describes a class of stochastic stabilizing policies within asset price regimes that can be easily incorporated into the framework of regime switching recently proposed by Froot and Obstfeld (1991). In contrast to previous treatments of market-driven fundamentals within the regime,...

Persistent link: https://www.econbiz.de/10012473581

Measuring the Relative Performance of Providers of a Health Service

Ackerberg, Daniel A. - 2001

A methodology is developed and applied to compare the performance of publicly funded agencies providing treatment for alcohol abuse in Maine. The methodology estimates a Wiener process that determines the duration of completed treatments, while allowing for agency differences in the...

Persistent link: https://www.econbiz.de/10012470335

A Bargain at Twice the Price? California Hospital Prices in the New Millennium

Antwi, Yaa Akosa - 2009

We use data from California to document and offer possible explanations for the sharp increase in hospital prices … the change in hospital market concentration. For example, the greatest price rises came from hospitals in monopoly and … hospital regulations, the seismic retrofit mandate and the mandatory nurse staffing ratio affected hospital costs. However, the …

Persistent link: https://www.econbiz.de/10012463516

How Do Hospitals Respond to Price Changes?

Dafny, Leemore S. - 2003

changes in hospital costs. I exploit an exogenous 1988 policy change that generated large price changes for 43 percent of all …

Persistent link: https://www.econbiz.de/10012468725

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