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dc.contributor.authorKvamsdal, Sturla F.
dc.contributor.authorMaroto, José M.
dc.contributor.authorMorán, Manuel
dc.contributor.authorSandal, Leif K.
dc.date.accessioned2016-11-30T12:44:20Z
dc.date.available2016-11-30T12:44:20Z
dc.date.issued2016-11-30
dc.identifier.issn1500-4066
dc.identifier.urihttp://hdl.handle.net/11250/2423706
dc.description.abstractWe consider an infinite horizon optimization problem with arbitrary but finite periodicity in discrete time. The problem can be formulated as a fix-point problem for a contraction operator, and we provide a solution scheme for this class of problems. Our approach is an extension of the classical Bellman problem to the special case of non-autonomy that periodicity represents. Solving such problems paves the way for consistent and rigorous treatment of, for example, seasonality in discrete dynamic optimization. In an illustrative example, we consider the decision problem in a fishery with seasonal fluctuations. The example demonstrates that rigorous treatment of periodicity has profound influence on the optimal policy dynamics compared to the case where seasonality is abstracted from by considering average effects only.nb_NO
dc.language.isoengnb_NO
dc.publisherFORnb_NO
dc.relation.ispartofseriesDiscussion paper;19/16
dc.subjectBellmannb_NO
dc.subjectoptimizationnb_NO
dc.subjectperiodicitynb_NO
dc.subjectcontraction operatornb_NO
dc.subjectsolution schemenb_NO
dc.titleA Bellman approach to periodic optimization problemsnb_NO
dc.typeWorking papernb_NO
dc.source.pagenumber14nb_NO


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