Volkswirtschaftliche Modelle werden heute häufig als mikro-fundierte dynamische Optimierungsmodelle konstruiert. Dabei wird meist ein repräsentativer Agent mit rationalen Erwartungen betrachtet. Durch adaptive Lernalgorithmen können rationale Erwartungen als Ergebnis von optimierendem...

Models of agricultural economics typically operate at an annual basis or in a static equilibriumframework where inputs, outputs and their prices may change considerably. Production dynamics,however, imply that models relying on spatial and temporal aggregation do not capture the effects...

Introduction of foot and mouth disease (FMD) into country typically initiates eradication procedures which remove animals from the market, and halts the export of livestock products from the infected country. The magnitude of these effects can be highly uncertain. This paper presents a...

An optimising model is developed to determine the .sequence of total allowable catches of western mackerel which would result in the maximum present value of the stream of annual rents. It is found that the optimal steady state fishing mortality would be one half to one third of recent levels....

Does consumer behavior exhibit time inconsistency? This is an essential, yet difficult question to answer. This dissertation attempts to answer this question based on a large-scale randomized experiment in the credit card market. Specifically,we apply both time consistent preferences...

There are hundreds of thousands of crude oil and natural gas wells across North America that are currently not producing oil or gas. Many of these wells have not been permanently decommissioned to meet environmental standards for permanent closure, but are in an inactive state that enables them...

We consider an extension of the classical secretary problem where a decision maker observes only the relative ranks of a sequence of up to N applicants, whose true values are i.i.d. U[0,1] random variables. Applicants arrive according to a homogeneous Poisson Process, and the decision maker...

Chapter 1: Capacity and Utilization Choice in the US Oil Refining IndustryThis paper presents a new dynamic model of the operating and investmentdecisions of US oil refiners. The model enables me to predict how shocks to crudeoil prices and refinery shutdowns (e.g., in response to hurricanes)...

We extend economic analysis of the nuclear power industry by developing and employing three tools. They are 1) compilation and unification of operating and accounting data sets for plants and sites, 2) an abstract industry model with major economic agents and features, and 3) a model of nuclear...

Traditional approaches to estimating the potential benefits of water reform, including the introduction of water markets, have relied on short-run models which assume irrigation capital is either fixed or not a constraint on decision making. Other studies have incorporated a long-run decision...