Browsing Discussion papers (FOR) by Title
Now showing items 323-342 of 564
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Optimal contracts under imperfect enforcement revisited
(Discussion paper, Working paper, 2005-08)We consider a financing game with costly enforcement based on Townsend (1979), but where monitoring is non-contractible and allowed to be stochastic. Debt is the optimal contract. Moreover, the debt contract induces creditor ... -
Optimal control of a renewable natural resources and the "stochastically induced critical depensation"
(Discussion paper, Working paper, 2002-12)This paper focus aspects connected to the optimal control of a renewable resource modelled by a stochastic differential equation. The main point is to show how small changes of the problem may cause severe changes in the ... -
Optimal fishing mortalities with age-structured bioeconomic model - a case of NEA mackerel
(Discussion paper;9/16, Working paper, 2016-05-31)The effects of random environmental impacts on optimal exploitation of a fish population are investigated using both optimization and simulation, based on a discrete-time age-structured bioeconomic model. The optimization ... -
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
(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 heating of large block of flats
(Discussion paper, Working paper, 2007) -
Optimal maintenance scheduling of local public purpose buildings
(Discussion paper;36/14, Working paper, 2014-11)We formulate the maintenance scheduling decision as a dynamic optimization problem, subject to an accelerating decay. This approach offers a formal, yet intuitive, weighting of the trade-offs involved when deciding a ... -
Optimal management of renewable resources : a general feedback approach
(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 ... -
Optimal Pension Insurance Design
(Discussion paper, Working paper, 2006-09)In this paper we provide a framework for how the traditional life and pension contracts with a guaranteed rate of return can be optimized to increase customers’ welfare. Given that the contracts have to be priced correctly, ... -
Optimal portfolio selection with both fixed and proportional transaction costs for a CRRA investor with finite horizon
(Discussion paper, Working paper, 2002-01)In this paper we study the optimal portfolio selection problem for a constant relative risk averse investor who faces fixed and proportional transaction costs and maximizes expected utility of end-of-period wealth. We use ... -
Optimal portfolio selection with transaction costs for a CARA investor with finite horizon
(Discussion paper, Working paper, 2002-12)In this paper we study the optimal portfolio selection problem for a CARA investor who faces fixed and/or proportional transaction costs and maximizes expected utility of end-of-period wealth. We use a continuous time model ... -
Optimal redistribution and monitoring of labor effort
(Discussion paper;33/14, Working paper, 2014-09)This paper extends the Mirrlees (1971) model of optimal non-linear income taxation with a monitoring technology that allows the government to verify labor effort at a positive, but non-infinite cost. We analyze the joint ... -
Optimal risk sharing
(Discussion paper, Working paper, 2003-01)Optimal risk sharing is considered from the perspective of the risk sharing model introduced by Karl Borch in the late 50ies. First we introduce, in a modern setting, the main concepts from this theory. These we apply ... -
Optimal Risk Sharing in Society
(Discussion paper;10/21, Working paper, 2021-12-30)We consider risk sharing among individuals in a one-period setting under uncertainty, that will result in payoffs to be shared among the members. We start with optimal risk sharing in an Arrow-Debreu economy, or equivalently, ... -
Optimal Risk-Sharing and Deductables in Insurance
(Discussion paper, Working paper, 2006)Risk-sharing in insurance is analyzed, with a view towards explaining the prevalence of deductibles. First we introduce, in a modern setting, the main concepts of the theory of risk-sharing in a group of agents. This theory ... -
Optimal Scale in Different Environments – The Case of Norwegian Electricity Distribution Companies
(Discussion paper;22/15, Working paper, 2015-09-17)We study returns to scale in Norwegian electricity distribution companies. The scale issue of this sector has become an important political question, and it was for instance discussed by the Reiten commission (OED, 2014) ... -
Optimal spending of a wealth fund in the discrete time life cycle model
(Discussion paper;7/23, Working paper, 2023-06-09)The paper analyses optimal spending of an endowment fund. We use the life cycle model for both expected utility and recursive utility in discrete time. First we find the optimal consumption and investment policies for both ... -
The optimal spending rate versus the expected real return of a sovereign wealth fund
(Discussion paper;1/21, Working paper, 2021-02-04)We consider a sovereign wealth fund that invests broadly in the international financial markets. The influx to the fund has stopped. We adopt the life cycle model and demonstrate that the optimal spending rate from the ... -
Optimal Taxation with Multiple Incomes and Types
(Discussion paper;3/22, Working paper, 2022-01-24)We analyze the optimal nonlinear income tax schedule when taxpayers earn multiple in comes and differ along many unobserved dimensions. We derive the necessary conditions for the government’s optimum using both a tax ... -
Optimization of age-structured bioeconomic model: recruitment, weight gain and environmental effects
(Discussion paper;4/19, Working paper, 2019-09-03)More and more fishery researchers begin to acknowledge that one-dimensional biomass models may omit key information when generating management guidelines. For the more complicated age-structured models, numerous parameters ... -
Optimization-based Evacuation on Cruise Vessels Using Two-way Communication
(Discussion paper;16/23, Working paper, 2023-10-31)We study the evacuation of large cruise vessels under hazardous conditions. Based on a new sensor mesh technology, allowing wire-less two-way communication also when electricity is lost, we propose an optimization-based ...