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Modeling tails of aggregate economic processes in a stochastic growth model [PDF]
Computational Statistics & Data Analysis, 2014 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Auray, Stéphane +2 more
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ECONOMIC PRODUCTION LOT SIZING MODEL WITH STOCHASTIC DEMAND [PDF]
Asia-Pacific Journal of Operational Research, 2014 We consider the extended economic production quantity (EPQ) problem when demand follows a Poisson process in a production system. A fixed lot sizing policy is implemented to minimize fluctuation of workload, and to smooth production planning and inventory control. The considered costs include setup cost, inventory carrying cost, and shortage cost when
SHINE-DER LEE +2 more
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EFFICIENCY IN STOCHASTIC DYNAMIC ECONOMIC MODELS
IFAC Proceedings Volumes, 1989Abstract We consider an infinite horizon economy with stochastic production and consumption. Two types of efficiency for feasible production-consumption programs are defined, using the first and second degree stochastic dominance. A complete characterization of inefficiency (of type I) is obtained.
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A frequency-constrained stochastic economic dispatch model
2013 IEEE Power & Energy Society General Meeting, 2013In this paper, we formulate the economic dispatch problem as a two-stage stochastic convex program for operational decision making under uncertainty. Post-contingency minimum frequency constraints are formulated as convex sets using a simplified model of frequency dynamics.
Yen-Yu Lee, Ross Baldick
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Impact of Financial Crisis on Economic Growth: A Stochastic Model
Stochastics and Quality Control, 2022Abstract In this paper, we develop a stochastic model to analyze how financial contagion may affect economic activity. In the deterministic case, we show that, according to specific parameter values, the economy may converge either to a stress-free equilibrium or to a stressed equilibrium: in the former situation, the level of economic ...
Calvin Tadmon +1 more
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Stochastic Economic Optimisation Model for the Coastal Zone
2003This paper describes a stochastic optimisation model for the coastal zone. The model combines stochastic hydraulic and morphological processes in the coastal system with maintenance measures (sand nourishment) and socio-economic and ecological activities.
van Vuren, Saskia +2 more
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Preconditioning in Economic Stochastic Growth Models
IFAC Proceedings Volumes, 2001Publisher Summary This chapter describes the preconditioning in economic stochastic growth models. Preconditioning significantly improves the performance of Krylov subspace methods (KSM) used in policy iteration for solving stochastic growth models. The performance improvement is especially large in models where the discount factor approaches 1.
Mico Mrkaic, Giorgio Pauletto
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Stochastic differential games in economic modeling
1994In this paper we present two continuous-time models of economic competition which are based on a stochastic differential game formalism. We focus our presentation on the modeling possibilities offered by the frameworks of piecewise deterministic and switching diffusion control systems respectively.
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Characterising economic trends by Bayesian stochastic model specification search [PDF]
Computational Statistics & Data Analysis, 2014 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
GRASSI, STEFANO, PROIETTI, TOMMASO
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