Chapter 1 “Introduction” by Herbert Dawid and Jasmina Arifovic -- Chapter 2. “Cross-bidding in eBay-like Environments” by Francisco Alvarez and Marcello Sartarelli -- Chapter 3. “Risk–Reward Ratio Optimisation (Revisited)” by Manfred Gilli and Enrico Schumann -- Chapter 4....

This book analyses decision-making in dynamic economic environments. By applying a wide range of methodological approaches, combining both analytical and computational methods, the contributors examine various aspects of optimal firm behaviour and relevant policy areas. Topics covered include...

This paper determines the optimal timing of dike heightenings as well as the corresponding optimal dike heightenings to protect against floods. To derive the optimal policy we design an algorithm based on the Impulse Control Maximum Principle. In this way the paper presents one of the first real...