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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 ... 
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 ... 
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 ... 
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 ... 
A new SemiLagrangean Relaxation for the pmedian problem
(Discussion paper;01/15, Working paper, 20150109)Recently BeltranRoyo et.al presented a SemiLagrangean relaxation for the classical pmedian location problem. The results obtained using the SemiLagrangean relaxation approach were quite impressive. In this paper we use ... 
A Nodal Pricing Model for the Nordic Electricity Market
(Discussion paper;43/14, Working paper, 201412)In the Nordic dayahead electricity market zonal pricing or market splitting is used for relieving congestion between a predetermined set of bidding areas. This congestion management method represents an aggregation of ... 
A partner in crime : assortative matching and bias in the crime market
(Discussion papers;25/14, Working paper, 201406)I identify a discriminatory bias in partnership formation within the property crime mar ket in the United States. Theoretically, the prisoner's dilemma creates an incentive for a criminal to form a partnership with a ... 
A simple waveletbased test for serial correlation in panel data models
(Discussion paper;11/14, Working paper, 201403)Hong and Kao (2004) proposed a panel data test for serial correlation of unknown form. However, their test is computationally difficult to implement, and simulation studies show the test to have bad smallsample properties. ... 
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 ... 
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 ... 
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 ...