Blar i Discussion papers (FOR) på emneord "stochastic"
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Greed is good: from super-harvest to recovery in a stochastic predator-prey system
(Discussion paper;5/19, Working paper, 2019-09-04)This paper demonstrates a predator-prey system of cod and capelin that confronts a possible scenario of prey extinction under the first-best policy in a stochastic world. We discover a novel ‘super-harvest’ phenomenon that ... -
Some comments on free-riding in leontief partnerships
(Discussion paper, Working paper, 2001)Holmström (1982) showed that free-riding is inevitable in partnerships where inputs are substitutes. Legros & Matthews (1993) and Vislie (1994) showed that when inputs are strict complements (Leontief technology), free-riding ...