Articles (FOR): Nye registreringer
Viser treff 41-60 av 100
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Planning for charters: A stochastic maritime fleet composition and deployment problem
(Peer reviewed; Journal article, 2017)This paper introduces a chartering problem that arises in the shipping industry. The chartering decisions determine the time-charter contracts to enter into, in particular, how many ships of each type to charter in, and ... -
A Maximum Principle for Mean-Field SDEs with Time Change
(Journal article; Peer reviewed, 2017)Time change is a powerful technique for generating noises and providing flexible models. In the framework of time changed Brownian and Poisson random measures we study the existence and uniqueness of a solution to a ... -
A Donsker delta functional approach to optimal insider control and applications to finance
(Journal article; Peer reviewed, 2015)We study optimal insider control problems, i.e. optimal control problems of stochastic systems where the controller at any time t, in addition to knowledge about the history of the system up to this time, also has ... -
Sulphur Abatement Globally in Maritime Shipping
(Journal article; Peer reviewed, 2017)In 2016, the International Maritime Organization (IMO) decided on global regulations to reduce sulphur emissions to air from maritime shipping starting 2020. The regulation implies that ships can continue to use residual ... -
Stepwise Green Investment under Policy Uncertainty
(Peer reviewed; Journal article, 2016)We analyse how market price and policy uncertainty, in the form of random provision or retraction of a subsidy, interact to affect the optimal time of Investment and the size of a renewable energy (RE) project that can be ... -
Environmental regulations in shipping: Policies leaning towards globalization of scrubbers deserve scrutiny
(Peer reviewed; Journal article, 2016)ABSTRACT Emission regulations for Sulphur oxides (SOx) and nitrogen oxides (NOx) are motivated by health- and other environmental objectives in local and regional settings, while global warming concerns motivate policies ... -
Stepwise investment and capacity sizing under uncertainty
(Peer reviewed; Journal article, 2016)The relationship between uncertainty and managerial flexibility is particularly crucial in addressing capital projects. We consider a firm that can invest in a project in either a single (lumpy investment) or multiple ... -
Stochastic energy market equilibrium modeling with multiple agents
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Optimal Insurance Policies in the Presence of Costs
(Journal article; Peer reviewed, 2017)We reconsider costs in insurance, and suggest a new type of cost function, which we argue is a natural choice when there are relatively small, but frequent, claims. If a fixed cost is incurred each time a claim is made, ... -
Dead Battery? Wind Power, the Spot Market, and Hydropower Interaction in the Nordic Electricity Market
(Journal article; Peer reviewed, 2013)It is well established within both the economics and power system engineering literature that hydropower can act as a complement to large amounts of intermittent energy. In particular hydropower can act as a “battery” where ... -
Scrapping a wind turbine: Policy changes, scrapping incentives and why wind turbines in good locations get scrapped first
(Journal article; Peer reviewed, 2014)The most common reason for scrapping a wind turbine in Denmark is to make room for a newer turbine. The decision to scrap a wind turbine is then highly dependent on an opportunity cost that comes from the interaction of ... -
Risikopremier, realrenten og optimal konsum og porteføljeteori: Hva er problemet?
(Journal article; Peer reviewed, 2017)Vi demonstrerer hvordan rekursive preferanser kan anvendes i økonomisk modellering, der kombinasjon av tid og usikkerhet er vesentlige elementer. Additiv og separerbar forventet nytteteori har vært den vanlige grunnpillaren ... -
Verdien av å (kunne) stenge
(Journal article, 2017)Verdsetting av fysiske eiendeler ved hjelp av diskontering av fremtidige forventede kontantstrømmer tilhører barnelærdommen for siviløkonomer. Denne metoden har imidlertid en stor svakhet: Det forutsettes at eieren ikke ... -
Recursive utility using the stochastic maximum principle
(Journal article; Peer reviewed, 2016)Motivated by the problems of the conventional model in rationalizing market data, we derive the equilibrium interest rate and risk premiums using recursive utility in a continuous-time model. We use the stochastic maximum ... -
Batteries in offshore support vessels – Pollution, climate impact and economics
(Journal article; Peer reviewed, 2016)This paper assesses the pros and the cons of installing batteries on offshore support vessels. These vessels are specially designed to provide services to oil and gas operations, such as anchor handling, supply and subsea ... -
Endogenous Verifiability and Relational Contracting
(Journal article, 2009)Principal-agent models usually invoke the strong assumption that the parties know for sure ex ante whether a variable is verifiable or not. This paper assumes that only the probability of verification is known, and that ... -
Harvest control rules in modern fisheries management
(Journal article; Peer reviewed, 2016)Harvest control rules have become an important tool in modern fisheries management, and are increasingly adopted to provide continuity in management practices, to deal with uncertainty and ecosystem considerations, and to ... -
Perceived mortality and perceived morality: Perceptions of value-orientation are more likely when a decision is preceded by a mortality reminder
(Journal article; Peer reviewed, 2016)The questions addressed in this paper are whether and how reported mortality reminders can function as an indication of sincerity when communicating ambiguously motivated decisions. In two experiments, ... -
The global potential for carbon capture and storage from forestry
(Journal article; Peer reviewed, 2016)Discussions about limiting anthropogenic emissions of CO2 often focus on transition to renewable energy sources and on carbon capture and storage (CCS) of CO2. The potential contributions from forests, forest products and ... -
Some aspects of random utility, extreme value theory and multinomial logit models
(Journal article; Peer reviewed, 2012)In this paper we give a survey on some basic ideas related to random utility, extreme value theory and multinomial logit models. These ideas are well known within the eld of spatial economics, but do not appear to be ...