Recent Submissions

  • Analyzing learning effects in the newsvendor model by probabilistic methods 

    Andersson, Jonas; Jörnsten, Kurt; Lillestøl, Jostein; Ubøe, Jan (Discussion paper;13/19, Working paper, 2019-10-11)
    In this paper, we use probabilistic methods to analyze learning effects in a behavioral experiment on the newsvendor model. We argue why we should believe that suggested orders follow a multinomial logit distribution, and ...
  • Profit shifting and the effect of stricter transfer pricing regulation on tax revenue 

    Bakke, Julia Tropina; Hopland, Arnt Ove; Møen, Jarle (Discussion paper;11/19, Working paper, 2019-10-03)
    Using a 20-year-long, population-wide panel with detailed firm and group level data from Norway, we study the profitability change in companies that shift from being domestic to being multinational as well as companies ...
  • The impact of international tax information exchange agreements on the use of tax amnesty: evidence from Norway 

    Andersson, Jonas; Schroyen, Fred; Torsvik, Gaute (Discussion paper;12/19, Working paper, 2019-10-04)
    In this paper we develop a model for tax amnesty applications in a multi-period setting. One key insight from the model is that applying for amnesty becomes more attractive at the moment when stricter enforcement is ...
  • The optimal extraction rate versus the expected real return of a sovereign wealth fund 

    Aase, Knut K.; Bjerksund, Petter (Discussion paper;7/19, Working paper, 2019-09-06)
    With reference to funds established for the benefits of the public at large, a university endowment, or other similar sovereign wealth fund, we demonstrate that the optimal extraction rate from the fund is significantly ...
  • Explicit Solution Algorithms for Order and Price Postponement in Multi-periodic Channel Optimization 

    Azad Gholami, Reza; Sandal, Leif K.; Ubøe, Jan (Discussion paper;9/19, Working paper, 2019-09-09)
    Supply channels typically face uncertain and time-varying demand. Nonetheless, time-dependent channel optimization while addressing uncertain demand has received limited attention due to the high level of complexity of the ...
  • Markets With Memory: Dynamic Channel Optimization Models With Price-Dependent Stochastic Demand 

    Azad Gholami, Reza; Sandal, Leif K.; Ubøe, Jan (Discussion paper;8/19, Working paper, 2019-09-09)
    Almost every vendor faces uncertain and time-varying demand. Inventory level and price optimization while catering to stochastic demand are conventionally formulated as variants of newsvendor problem. Despite its ubiquity ...
  • Solution Algorithms for Optimal Buy-Back Contracts in Multi-period Channel Equilibria with Stochastic Demand and Delayed Information 

    Azad Gholami, Reza; Sandal, Leif K.; Ubøe, Jan (Discussion paper;10/19, Working paper, 2019-09-09)
    We analyze the problem of time-dependent channel coordination in the face of uncertain demand. The channel, composed of a manufacturer and a retailer, is to address a time-varying and uncertain price-dependent demand. The ...
  • Autonomous vessels: State of the art and potential opportunities in logistics 

    Gu, Yewen; Goez, Julio C.; Guajardo, Mario; Wallace, Stein W. (Discussion paper;6/19, Working paper, 2019-09-05)
    The growth in technology on autonomous transportation systems is currently motivating a number of research initiatives. This paper first presents a survey of the literature on autonomous marine vessels in general. By ...
  • Greed is good: from super-harvest to recovery in a stochastic predator-prey system 

    Ni, Yuanming; Sandal, Leif K.; Kvamsdal, Sturla F.; Poudel, Diwakar (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 ...
  • 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 ...
  • Strategic Insider Trading in Continuous Time: A New Approach 

    Aase, Knut K.; Øksendal, Bernt (Discussion paper;3/19, Working paper, 2019-08-29)
    The continuous-time version of Kyle's (1985) model of asset pricing with asymmetric information is studied, and generalized by allowing time-varying noise trading. From rather simple assumptions we are able to derive the ...
  • Strategic Insider Trading Equilibrium with a non-fiduciary market maker 

    Aase, Knut K.; Øksendal, Bernt (Discussion paper;2/19, Working paper, 2019-08-28)
    The continuous-time version of Kyle's (1985) model is studied, in which market makers are not fiduciaries. They have some market power which they utilize to set the price to their advantage, resulting in positive expected ...
  • International Debt Shifting: The Value Maximizing Mix of Internal and External Debt 

    Møen, Jarle; Schindler, Dirk; Schjelderup, Guttorm; Bakke, Julia Tropina (Discussion paper;1/19, Working paper, 2019-03-29)
    We study the capital structure of multinationals and expand previous theory by incorporating international debt tax shield effects from both internal and external capital markets. We show that: (i) multinationals' firm ...
  • Stairway to (Secrecy) Heaven: Market Attitudes towards Secrecy Shopping 

    Gavrilova, Evelina; Polakova, Aija (Discussion paper;19/18, Working paper, 2018-12-18)
    We study asset price reactions to news on firms' decisions to acquire affiliates located in known secrecy havens. Our sample consists of data on the S&P 500 companies in the period 2007 to 2014. We find that acquisitions ...
  • Name and shame? Evidence from the European Union tax haven blacklist 

    Polakova, Aija (Discussion paper;18/18, Working paper, 2018-12-14)
    I study publication of the European Union (EU) tax haven blacklist on December 5, 2017 to examine whether and how the use of recognized tax havens affects firm value. I find that the tax haven naming and shaming by the EU ...
  • CO2 intensity and GDP per capita 

    Hannesson, Rögnvaldur (Discussion paper;16/18, Working paper, 2018-12-12)
    The relationship between CO2 intensity and GDP per capita is studied. Most rich countries show falling CO2 intensity over time and a negative correlation with GDP per capita. Many poor and medium rich countries show the ...
  • The Green Paradox and learning by doing 

    Hannesson, Rögnvaldur (Discussion paper;17/18, Working paper, 2018-12-13)
    Production of a renewable substitute to fossil fuels is modeled as causing the cost of this backstop technology to fall over time in proportion to the scale of the substitute production and how long it has been in use. The ...
  • What is wrong with IRV? 

    Stensholt, Eivind (Discussion paper;13/18, Working paper, 2018-10-22)
    Struggles over the single-seat preferential election method IRV, Instant Runoff Voting, (a.k.a. AV, Alternative Vote or RCV, Ranked-Choice Voting) go on in many arenas: legislatures, courts, websites, and scholarly ...
  • Flow-Based Market Coupling in the European Electricity Market – A Comparison of Efficiency and Feasibility 

    Bjørndal, Endre; Bjørndal, Mette; Cai, Hong (Discussion paper;14/18, Working paper, 2018-10-23)
    In May 2015, the Flow-Based Market Coupling (FBMC) model replaced the Available Transfer Capacity (ATC) model in Central Western Europe to determine the power transfers between countries or price areas. The FBMC model aims ...
  • The Flow-Based Market Coupling Model and the Bidding Zone Configuration 

    Bjørndal, Endre; Bjørndal, Mette; Cai, Hong (Discussion paper;15/18, Working paper, 2018-10-24)
    In May 2015, the Flow-Based Market Coupling (FBMC) model replaced the Available Transfer Capacity (ATC) model in Central Western Europe to determine the power transfer among bidding zones in the day-ahead market. It might ...

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