Blar i NHH Brage på forfatter "Sandal, Leif K."
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A Bellman approach to periodic optimization problems
Kvamsdal, Sturla F.; Maroto, José M.; Morán, Manuel; Sandal, Leif K. (Discussion paper;19/16, Working paper, 2016-11-30)We consider an infinite horizon optimization problem with arbitrary but finite periodicity in discrete time. The problem can be formulated as a fix-point problem for a contraction operator, and we provide a solution scheme ... -
A bridge between continuous and discrete-time bioeconomic models: Seasonality in fisheries
Kvamsdal, Sturla F.; Maroto, José M.; Morán, Manuel; Sandal, Leif K. (Discussion paper;20/16, Working paper, 2016-11-30)We develop a discretization method for continuous-time bioeconomic models. Based on this method, we develop a discrete-time bioeconomic model to analyze seasonality in fisheries. The discretization method consists of three ... -
A contraction approach to periodic optimization problems
Sandal, Leif K.; Kvamsdal, Sturla F.; Maroto, José M.; Morán, Manuel (Working paper, 2017-11)Consider an infinite horizon, multi-dimensional optimization problem with arbitrary but finite periodicity in discrete time. The problem can be posed as a set of coupled equations. We show that the problem is a special ... -
Channel Coordination in a Multi-period Newsvendor Model with Dynamic, Price-dependent Stochastic Demand
Azad Gholami, Reza; Sandal, Leif K.; Ubøe, Jan (Discussion paper;6/16, Working paper, 2016-03-17)In this study, we extend the single-period newsvendor problem with stochastic demand into a multi-period and time-dependent one and find a solution for it. We analyze the multi-period newsvendor problem with stochastic ... -
Compact contenders? Investigating cost competitiveness requirements of small modular nuclear reactors and their potential impact on the European energy system
Qu, Chunzi; Bang, Rasmus Noss; Sandal, Leif K. (Discussion paper;9/24, Working paper, 2024-09-24)Europe is currently in the process of executing a strategy to increase the share of renewable energy in its electricity mix. However, concerns about energy system instability, higher transmission costs, and energy security ... -
A Distributional Robust Analysis of Buyback and Cap-and-Trade Policies
Fakhrabadi, Mahnaz; Sandal, Leif K. (Discussion paper;5/24, Working paper, 2024-02-20)This study delves into a dynamic Stackelberg game comprised of a manufacturer and a retailer, operating in an environment with fluctuating demand and price-dependent consumer behavior. The multi-period optimization challenges ... -
Explicit Solution Algorithms for Order and Price Postponement in Multi-periodic Channel Optimization
Azad Gholami, Reza; Sandal, Leif K.; Ubøe, Jan (Discussion paper;9/19, Working paper, 2019-09-09)Supply channels typically face uncertain and time-varying demand. Nonetheless, time-dependent channel optimization while addressing uncertain demand has received limited attention due to the high level of complexity of the ... -
Greed is good: from super-harvest to recovery in a stochastic predator-prey system
Ni, Yuanming; Sandal, Leif K.; Kvamsdal, Sturla F.; Poudel, Diwakar (Discussion paper;5/19, Working paper, 2019-09-04)This paper demonstrates a predator-prey system of cod and capelin that confronts a possible scenario of prey extinction under the first-best policy in a stochastic world. We discover a novel ‘super-harvest’ phenomenon that ... -
Markets With Memory: Dynamic Channel Optimization Models With Price-Dependent Stochastic Demand
Azad Gholami, Reza; Sandal, Leif K.; Ubøe, Jan (Discussion paper;8/19, Working paper, 2019-09-09)Almost every vendor faces uncertain and time-varying demand. Inventory level and price optimization while catering to stochastic demand are conventionally formulated as variants of newsvendor problem. Despite its ubiquity ... -
Multi-Periodic Distributional-Robust Stackelberg Game with Price-History-Dependent Demand and Environmental Corrective Actions
Fakhrabadi, Mahnaz; Sandal, Leif K. (Discussion paper;13/23, Working paper, 2023-09-22)The paper investigates a multi-period supply channel facing uncertain and price-history dependent demands and environmental regulations. The knowledge about the demands is limited to its mean and standard deviation in each ... -
Seasonality matters: a multi-season, multi-state dynamic optimization in fishery
Ni, Yuanming; Sandal, Leif K. (Discussion paper;2/18, Working paper, 2018-02-12)Many biological and economic processes in fishery happen seasonally. Most of the extant literature tends to neglect this fact. This work is an initial attempt to treat seasonality in a systematic and proper way. We apply ... -
Solution Algorithms for Optimal Buy-Back Contracts in Multi-period Channel Equilibria with Stochastic Demand and Delayed Information
Azad Gholami, Reza; Sandal, Leif K.; Ubøe, Jan (Discussion paper;10/19, Working paper, 2019-09-09)We analyze the problem of time-dependent channel coordination in the face of uncertain demand. The channel, composed of a manufacturer and a retailer, is to address a time-varying and uncertain price-dependent demand. The ... -
A Subgame Perfect Approach to a Multi-Period Stackelberg Game with Dynamic, Price-Dependent, Distributional-Robust Demand
Fakhrabadi, Mahnaz; Sandal, Leif K. (Discussion paper;4/23, Working paper, 2023-03-22)This paper investigates a multi-periodic channel optimization facing uncertain, price dependent, and dynamic demand. The picture of the market uncertainty is incomplete, and only the price and time-dependent mean and ...