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A Bellman approach to periodic optimization problems
(Discussion paper;19/16, Working paper, 20161130)We consider an infinite horizon optimization problem with arbitrary but finite periodicity in discrete time. The problem can be formulated as a fixpoint problem for a contraction operator, and we provide a solution scheme ... 
A bridge between continuous and discretetime bioeconomic models: Seasonality in fisheries
(Discussion paper;20/16, Working paper, 20161130)We develop a discretization method for continuoustime bioeconomic models. Based on this method, we develop a discretetime bioeconomic model to analyze seasonality in fisheries. The discretization method consists of three ... 
Abusive transfer pricing and economic activity
(Discussion papers;21/14, Working paper, 201405)This paper investigates how concealment costs of transfer pricing and the prob ability of detection affect transfer pricing and firm behavior. We find that transfer pricing in intermediate production factors does not ... 
A carbon footprint proportional to expenditure : a case for Norway?
(Discussion paper;16/14, Working paper, 201404)Assuming that emissions originate from the consumption of goods and services, we study the relationship between consumptionbased per capita carbon footprint and per capita expenditure for Norway, using 2007 data. A ... 
Access regulation and crossborder mergers : is international coordination beneficial?
(Discussion paper, Working paper, 200504)The international integration of regulated markets poses new challenges for regulatory policy. One question is the implications that the overall international regulatory regime will have for crossborder and/or domestic ... 
Adaptive regulation with flow and stock externalities
(Discussion paper, Working paper, 199801)In confronting a consumer good whose production process is associated with both flow and stock externalities, a corrective tax is introduced to restore efficiency. The objective is to maximize social welfare over time when ... 
Adverse selection, public information, and underpricing in new issues
(Discussion paper, Working paper, 200402)This paper examines the role of adverse selection in the pricing of new issues when all investors may be privately informed about the firm, and in which public information is observed prior the issue date. The precision ... 
Advertising and Newspaper Differentiation: On the Role of Readers’ Advertising Taste
(Discussion paper, Working paper, 200701)Newspapers have an incentive to moderate their profile in order to gain a larger readership and thus higher advertising revenue. We show that this incentive is weakened both if readers are adhaters and if they are adlovers. 
An agentbased computational approach to explaining persistent spatial unemployment disparities
(Discussion paper, Working paper, 200809)This paper explores possible reasons for persistent spatial unemployment disparities using agentbased computational methods. The method relies on observing the actions of thousands of individuals within an artificial ... 
Aggregation of gravity models for journeystowork
(Discussion paper, Working paper, 2001)This paper deals with the use of gravity models to examine journeystowork. The purpose of the paper is to study very simple examples demonstrating that gravity models may be subject to serious misspecification in aggregate ... 
A likelihood ratio and Markov Chain based method to evaluate density forecasting
(Discussion paper;12/14, Working paper, 201403)In this paper, we propose a likelihood ratio and Markov chain based method to evaluate density forecasting. This method can jointly evaluate the unconditional forecasted distribution and dependence of the outcomes. This ... 
A maximum entropy approach to the newsvendor problem with partial information
(Discussion paper;2011:14, Working paper, 201108)In this paper, we consider the newsvendor model under partial information, i.e., where the demand distribution D is partly unknown. We focus on the classical case where the retailer only knows the expectation and variance ... 
American derivatives : a review
(Discussion paper, Working paper, 199712)The paper gives an overview over the theory of pricing and hedging financial derivatives that can be exercised at any time during a fixed time interval [0, T]. The analysis makes use of the theory of optimal stopping, and ... 
American option pricing with transaction costs
(Discussion paper, Working paper, 200310)In this paper we examine the problem of finding investors’ reservation option prices and corresponding early exercise policies of Americanstyle options in the market with proportional transaction costs using the utility ... 
Analysing flexible load contracts in the energy market
(Discussion paper, Working paper, 200211)In this paper we analyse flexible load contracts (FLC), a type of "swing" option. This contract type has existed in energy markets for a long time and has proved to be challenging to value. The term swing refers to the ... 
An analysis of a combinatorial auction
(Discussion paper, Working paper, 2001)Our objective is to find prices on individual items in a combinatorial auction that support the optimal allocation of bundles of items, i.e. the solution to the winner determination problem of the combinatorial auction. ... 
Analyzing risk of stock collapse in a fishery under stochastic profit maximization
(Discussion paper;2012:4, Working paper, 201204)In commercial fisheries, stock collapse is an intrinsic problem caused by overexploitation or due to pure stochasticity. To analyze the risk of stock collapse, we apply a relatively simple Monte Carlo approach which can ... 
An Economic Analysis of Debarment
(Discussion paper;23/15, Working paper, 20150917)With a view to reducing the consequences of corruption in public procurement, many governments have introduced debarment of suppliers found guilty of corrup tion and some other forms of crime. This paper explores the ... 
A new Lagrangean Approach for the Travelling Salesman Problem
(Discussion paper;04/15, Working paper, 20150119)In this paper, we use a reformulation of the symmetric and the asymmetric travelling salesman problem more suitable for Lagrangean relaxation and analyse the new approach on examples from TSP Lib. Furthermore the Lagrangean ... 
A New SemiLagrangean Relaxation for the KCardinality Assignment Problem
(Discussion paper;01/14, Working paper, 201401)Recently BeltránRoyo, Vial & AlonsoAyuso (2012) presented a semiLagrangean relaxation for the classical pmedian location problem and for the incapacitated facility location problem. The results, obtained using the ...