Kryazhimskiy AV, Obersteiner M, & Smirnov A (2008). Infinite-horizon dynamic programming and application to management of economies effected by random natural hazards. Applied Mathematics and Computation 204 (2): 609-620. DOI:10.1016/j.amc.2008.05.042.Full text not available from this repository.
We describe a version of the dynamic programming method, applicable to infinite-horizon discrete-time stochastic processes, and use this technique to solve a stylized problem of management of an economy effected by random natural hazards. Also, we characterize the equilibrium points in a game, in which two economies invest in common prevention measures to mitigate the future impact of natural hazards.
|Research Programs:||Dynamic Systems (DYN)
|Bibliographic Reference:||Applied Mathematics and Computation; 204(2):609-620 (15 October 2008) (Published online 15 May 2008)|
|Depositing User:||IIASA Import|
|Date Deposited:||15 Jan 2016 08:41|
|Last Modified:||19 Feb 2016 11:57|
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