Optimal oil-owner behavior in piecewise deterministic models

DOI10.1155/2013/368096MaRDI QIDQ457924zbMATH OpenOpenAlexWikidataFDO

Authors Atle Seierstad

Publication date 30 September 2014

Published in Journal of Calculus of Variations (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1155/2013/368096

zbMATH Keywords

oil productionoptimal controlpiecewise deterministic models

Mathematics Subject Classification ID

Applications of optimal control and differential games (49N90) Production theory, theory of the firm (91B38)

Review text

Summary: Six simple piecewise deterministic oil production models from economics are discussed by using solution tools that are available in the theory of piecewise deterministic optimal control problems.

Cites work

• Applied stochastic control of jump diffusions.
• MDP algorithms for portfolio optimization problems in pure jump markets
• On piecewise deterministic Markov control processes: Control of jumps and of risk processes in insurance
• Stochastic Control in Discrete and Continuous Time

Cited in

(2)

• Advertising and quality improving strategies in a supply chain when facing potential crises
• The Looking Forward Approach in a Differential Game Model of the Oil Market with Non-transferable Utility

This page was built for publication: Optimal oil-owner behavior in piecewise deterministic models

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q457924)