This paper adapts a generalized expected utility (GEU) maximization model (Epstein and Zin, 1989 and 1991) to examine the intertemporal risk management of wheat producers in the Pacific Northwest. Optimization results based on simulated data indicate the feasibility of the GEU optimization as a...

Identifying the optimal switching point between different invasive alien species (IAS) management policies is a very complex task and policy makers are in need of modelling tools to assist them. In this paper we develop an optimal control bioeconomic model to estimate the type of optimal policy...

This study examines the interaction between insurance, credit and liquidityconstraints using a stochastic dynamic model. A risk averse farmer whoseobjective is to manage both production and market risk is assumed tomaximize the expected utility of life-time consumption by using both arearevenue...

This dissertation provides a thorough analysis of the costs associated with, andefficacy of, sequential license buyback auctions. I use data from the Texas ShrimpLicense Buyback Program - a sequential license buyback auction - to estimate theeffects of a repeated game set-up on bidding behavior....

In this paper we propose a methodology that we believe improves the effectiveness of several common assumptions underlying Modern Portfolio Theory's dynamic optimization framework. The paper derives a general outline of a stochastic nonlinear-quadratic control for analyzing and solving a...

In some manufacturing situations, station tasks or operations can be shifted or redistributed to adjacent stations when adjacent stations have the appropriate equipment and the workers on that station can perform the shifted work to a reasonable level of competency. This paper addresses such an...

This dissertation studies models for locating facilities in time varying demandenvironments. We describe the characteristics of the time varying demand that motivatethe analysis of our location models in terms of total demand and the changein value and location of the demand of each customer....

In everyday life, we often encounter groupings of objects. It could be a group of products kept on a retail shelf, food items in a shop window or depictions of groups of objects or people in an advertisement. However, very little attention has been paid to how these different groupings could...