• Optimal portfolio selection with transaction costs for a CARA investor with finite horizon 

      Zakamouline, Valeri I. (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 

      Zoutman, Floris T.; Jacobs, Bas (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 

      Aase, Knut K. (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 

      Aase, Knut K. (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 

      Aase, Knut K. (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 

      Cheng, Xiaomei; Bjørndal, Endre; Bjørndal, Mette (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 

      Aase, Knut K. (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 

      Aase, Knut K.; Bjerksund, Petter (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 

      Spiritus, Kevin; Lehmann, Etienne; Renes, Sander; Zoutman, Floris T. (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 

      Ni, Yuanming (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 

      Velez, Andres; Wallace, Stein W. (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 ...
    • Optimized on-line process control of bleaching operations with OptCab 

      Flisberg, Patrik; Nilsson, Stefan; Rönnqvist, Mikael (Discussion paper, Working paper, 2007)
      To produce pulp for paper production or as market pulp is a complicated on-line process with many integrated stages that impact the final quality. In the bleaching plant which is at the end of pulp production, the main ...
    • Optimum congestion pricing in a complex network 

      Babri, Sahar; McArthur, David Philip; Thorsen, Inge; Ubøe, Jan (Doctoral dissertation;04/13, Working paper, 2013-05)
      Road tolls are a well established way of dealing with problems of con- gestion. Over recent years, the literature has expanded to take account of how congestion charges might interact with imperfections in other mar- kets. ...
    • Overbidding vs fire-sales in bankruptcy auctions 

      Eckbo, B. Espen; Thorburn, Karin S. (Discussion paper, Working paper, 2002-06)
      We analyze bidding incentives of the main creditor (bank) in Swedish bankruptcy auctions. Absent a direct mechanism for enforcing its seller reservation price, the bank offers financing to a potential bidder in return for ...
    • Overpricing (and underpricing) in IPOs : a model of excess initial returns 

      Leite, Tore (Discussion paper, Working paper, 2000-12)
      This paper develops a model in which new issues, in equilibrium, may be overpriced or underpriced, depending on parameter values. The ability of an investor to withdraw from the offering upon observing unfavorable information ...
    • Paradoxes in networks supporting competitive electricity markets 

      Bjørndal, Mette; Jörnsten, Kurt (Discussion paper, Working paper, 2000)
      Grid investments are normally done in electrical networks in order to achieve a well functioning integrated electricity market and/or making the network more secure, i.e. less sensitive to link failures. In general, there ...
    • Pareto optimal insurance policies in the presence of administrative costs 

      Aase, Knut K. (Discussion paper, Working paper, 2010-08)
      In his classical article in The American Economic Review, Arthur Raviv (1979) examines Pareto optimal insurance contracts when there are ex-post insurance costs c induced by the indemnity I for loss x. Raviv’s main ...
    • Patent trolls, litigation and the market for innovation 

      Haus, Axel; Juranek, Steffen (Discussion papers;24/14, Working paper, 2014-06)
      We examine the role of non-practicing entities (NPEs), often called patent trolls, in patent litigation. We present a theoretical model that predicts that cases with NPE patentees resolve faster. We test this prediction ...
    • Patient allocations according to circumstances and preferences: Modelling based on the Norwegian patient list system 

      Lillestøl, Jostein; Ubøe, Jan; Rønsen, Yngve; Hjortdahl, Per (Discussion paper, Working paper, 2006-12)
      In some countries every citizen has the right to obtain a designated general practitioner. However, each individual may have preferences that cannot be fulfilled due to shortages of some kind. The questions raised in this ...
    • Peak price hours in the Nordic power market winter 2009/2010: effects of pricing, demand elasticity and transmission capacities 

      Gribkovskaia, Victoria (Discussion paper;09/15, Working paper, 2015-02-13)
      The Nordic electricity market experienced extremely high prices during the winter 2009/2010. Using real data from the peak price hours the zonal solution from the Nordic market is replicated and compared to the nodal price ...