Browsing Department of Business and Management Science by Author "Sandal, Leif Kristoffer"
Now showing items 21-40 of 43
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A hit-and-run interloper model for a regional fisheries management on the high sea
Sandal, Leif Kristoffer; Steinshamn, Stein Ivar; McKelvey, Robert W. (Discussion paper, Working paper, 2002-07)The 1993 U.N. Straddling Stock Agreement prescribes a multi-national organizational structure for management of an exploited marine fish stock, one whose range straddles both .Extended Economic Zones. (EEZs) and high seas ... -
Implications of a nested stochastic/deterministic bio-economic model for a pelagic fishery
McDonald, A. David; Sandal, Leif Kristoffer; Steinshamn, Stein Ivar (Discussion paper, Working paper, 2001-03)Use is made of an economically optimal feedback rule to determine optimal levels of exploitation of a pelagic fish species. Data from the southern bluefin tuna fishery for the years 1960-1996 are utilized to apply this ... -
Irreversible Investments Revisited
Sandal, Leif Kristoffer; Steinshamn, Stein Ivar (Discussion paper, Working paper, 2006-07)A non-linear dynamic model in two state variables, two controls and three cost terms is presented for the purpose of finding the optimal combination of exploitation and capital investment in optimal renewable resource ... -
A method for numerical and analytical solutions to a class of nonlinear optimal control problems
Sandal, Leif Kristoffer; Berge, Gerhard (Discussion paper, Working paper, 2004-02)Dynamic optimization problems cover a great class of problems in theoretical and applied economics and technology. In this account the exploitation of a general renewable capital stock is modeled through an alternative ... -
Mixed contracts for the newsvendor problem with real options
Jörnsten, Kurt; Nonås, Sigrid Lise; Sandal, Leif Kristoffer; Ubøe, Jan (Discussion paper, Working paper, 2011-04) -
More is less : the tax effects of ignoring flow externalities
Sandal, Leif Kristoffer; Steinshamn, Stein Ivar; Grafton, R. Quentin (Discussion paper, Working paper, 2000-11)Using a model of nonlinear decay of the stock pollutant, and starting from the same initial conditions, the paper shows that a tax that only corrects for stock externalities can, at the steady state, be higher than a tax ... -
A new approach of fitting biomass dynamics models to real data based on a linear total allowable catch (TAC) rule : an optimal control approach
Ussif, Al-Amin M.; Sandal, Leif Kristoffer; Steinshamn, Stein Ivar (Discussion paper, Working paper, 2000-05)A non-traditional approach of fitting dynamic resource biomass models to data is developed in this paper. The adjoint technique is an optimal control or a variational method for parameter identification. It provides a novel ... -
On the dynamics of commercial fishing and parameter identification
Ussif, Al-Amin M.; Sandal, Leif Kristoffer; Steinshamn, Stein Ivar (Discussion paper, Working paper, 2000-05)This paper has two main objectives. The first is to develop dynamic models of commercial fisheries different from the existing models. The industry is assumed to have a well defined index of performance based on which it ... -
Optimal fishing policy for two species in a three-species predator-prey model: The case of capelin, cod and juvenile herring in the Barents Sea
Aanestad, Sigurd; Sandal, Leif Kristoffer; Eide, Arne (Discussion paper, Working paper, 2007-12)This paper presents a management model for the Barents Sea capelin and cod fisheries including juvenile herring in the biological model as the young herring influences the cod-capelin system. The objective of the study is ... -
Optimal management of renewable resources : a general feedback approach
Sandal, Leif Kristoffer; Steinshamn, Stein Ivar (Discussion paper, Working paper, 1998-09)Analytical solutions for optimal exploitation of renewable capital stocks are derived as feedback rules for a quite general optimization problem. By feedback rules is meant that optimal exploitation is given as an explicit ... -
A perturbation approach on a class of optimal control problems, unifying the pontryagin and dynamic programming approach
Sandal, Leif Kristoffer; Berge, Gerhard (Discussion paper, Working paper, 2000-06)This article consider special ways of solving time dependent (non-autonomous) systems. Different types of time-dependent Optimal Control Problems in the setting of a Hamiltonian Formulation, are considered and the emphasis ... -
Pollution decay, consumer awareness and optimal carbon taxes
Sandal, Leif Kristoffer; Steinshamn, Stein Ivar (Discussion paper, Working paper, 2004-02)The effects of non-linear decay and consumer preferences are analyzed in a setting where optimal extraction of non-renewable resources is combined with stock externalities. The control is exercised via a corrective tax and ... -
Probabilistic cost efficiency and bounded rationality in the newsvendor model
Ubøe, Jan; Andersson, Jonas; Jörnsten, Kurt; Lillestøl, Jostein; Sandal, Leif Kristoffer (Doctoral dissertation;41/14, Working paper, 2014-12)In this paper we establish a link between probabilistic cost efficiency and bounded rationality in the newsvendor model. This establishes a framework where bounded rationality can be examined rigorously by statistical ... -
A simple approach to global optimal feedback solutions : with emphasize on certain management problems in economics
Sandal, Leif Kristoffer; Berge, Gerhard (Discussion paper, Working paper, 2001-06)Dynamic optimization problems covers a great class of problems in management science and technology. The classical problem formulations being the variational approach as in classical mechanics, like Hamilton's principle ... -
Stackelberg equilibria in a multiperiod vertical contracting model with uncertain and price-dependent demand
Sandal, Leif Kristoffer; Ubøe, Jan (Discussion paper;2012:2, Working paper, 2012-02)In this paper, we consider Stackelberg games in a multiperiod vertical contracting model with uncertain demand. Demand has a distribution with a mean and variance that depend on the current retail price, and this ... -
Stackelberg equilibria in continuous newsvendor models with uncertain demand and delayed information
Øksendal, Bernt; Sandal, Leif Kristoffer; Ubøe, Jan (Journal article; Peer reviewed, 2014)We consider explicit formulae for equilibrium prices in a continuous-time vertical contracting model. A manufacturer sells goods to a retailer, and the objective of both parties is to maximize expected profits. Demand ... -
Stochastic optimization for multispecies fisheries in the Barents Sea
Poudel, Diwakar; Sandal, Leif Kristoffer (Discussion paper;02/14, Working paper, 2014-02)This study presents a multispecies stochastic model. The model suggests optimal fishing policy for two species in a three species predator prey ecosystem in the Barents Sea. We have employed stochastic dynamic programing ... -
Stochastic Stackelberg equilibria with applications to time dependent newsvendor models
Sandal, Leif Kristoffer; Øksendal, Bernt; Ubøe, Jan (Discussion paper, Working paper, 2011-05) -
Stochastic Stackelberg equilibria with applications to time-dependent newsvendor models
Øksendal, Bernt; Sandal, Leif Kristoffer; Ubøe, Jan (Journal article; Peer reviewed, 2013)In this paper, we prove a maximum principle for general stochastic differential Stackelberg games, and apply the theory to continuous time newsvendor problems. In the newsvendor problem, a manufacturer sells goods to a ... -
A survey and analysis of outsourcing in East China
Fan, Tijun; Sandal, Leif Kristoffer; Kong, Jiehong; Li, Dandan (Discussion paper, Working paper, 2009-05)The aim of this study is to investigate whether outsourcing activities in east china are associated with a theoretical framework derived from the literature. By the methodology of Statistics Package for the Social Science ...