Infinite-horizon dynamic programming and application to management of economies effected by random natural hazards

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.

Abstract

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.

Item Type: Article
Research Programs: Dynamic Systems (DYN)
Forestry (FOR)
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
URI: http://pure.iiasa.ac.at/8604

Actions (login required)

View Item View Item

International Institute for Applied Systems Analysis (IIASA)
Schlossplatz 1, A-2361 Laxenburg, Austria
Phone: (+43 2236) 807 0 Fax:(+43 2236) 71 313