A sensitivity analysis on optimal economic growth

A model of capital accumulation is considered and the relation between the optimal path and the initial capital stock is analyzed. Mathematically speaking, the model is a convex model of infinite horizon in continuous time. The existence of optimal paths of capital accumulation is proved. By using the continuity of the value function, it is proved that the optimal path of capital accumulation is a continuous function of the initial capital stock. The analysis is so general that neither the smoothness of the model nor the interiority of the optimal path are made.     

A two sector endogenous growth model with habit formation

In this paper, we study an endogenous growth model with physical and human capital in which consumption habits enter the utility function multiplicatively. We show that although the utility function with multiplicative habits is nonconcave and unbounded, an interior optimal growth path still exists, it is uniquely determined and it converges to a balanced growth path. We also find that habit formation in consumption lowers the convergence speed of the optimal path toward the balanced growth path.     

Optimal Growth with Public Capital and Public Services

We characterize optimal economic growth in an endogenous growth model in which production requires public capital (a stock) and public services (a flow) in addition to private capital and labor. We analyze the comparative static effects of changes in the fundamental technological and preference parameters of the model on the optimal values of several variables, such as the optimal rate of growth and the optimal allocation of resources among consumption, the provision of public services, and investment in public and private capital. We show that the general optimal path converges in finite time to the balanced growth optimal path. We relate our paper to important contributions to the existing literature by obtaining them as special cases of our model.     

The welfare cost of one-size-fits-all patent protection

To analyze the welfare gain from allowing for differentiated patent protection across sectors, this study develops a two-sector quality-ladder growth model in which patent breadth is a policy variable and derives optimal patent breadth under two patent regimes. We show that (a) uniform optimal patent breadth is a weighted average of sector-specific optimal patent breadth and (b) sector-specific optimal patent breadth is larger in the sector that has a larger market size and more technological opportunities. To derive the optimal policy, we allow for an arbitrary path of patent breadth and derive the optimal path by solving a Stackelberg differential game. We find that the optimal path of patent breadth under each patent regime is stationary, time-consistent and subgame perfect. Finally, we perform a numerical investigation and find that even a moderate degree of asymmetry across sectors can generate a significant welfare cost of uniform patent protection.     

Optimal funding policy for R and D projects aimed at cost reduction: The case of a new drug in psychiatry

Governments' role in supporting research developments is well established. In this paper we describe a model for finding the optimal funding path for R and D projects aimed at cost reduction. A numerical illustration for a case of pharmaceutical research for a new drug to reduce the cost of treating patients in an irreversible chronic condition (schizophrenia) is presented. This is done by using the mathematical results obtained for the special case—the stationary exponential case. The sensitivity analysis method is utilized to study the optimal spending path and the project's discounted expected value. We also present a possible alternative subjective consistent estimation procedure for finding the optimal funding path for such projects.     

Optimal strategies in linear multisector models: Value function and optimality conditions

In this paper we study an optimal control problem with mixed constraints related to a multisector linear model with endogenous growth. The main aim is to establish a set of necessary and a set of sufficient conditions which are the basis for studying the qualitative properties of optimal trajectories. The presence of possibly degenerate mixed constraints, the unboundedness and non-strict convexity of the Hamiltonian, make the problem difficult to deal with. We develop first the dynamic programming approach, proving that the value function is a bilateral viscosity solution to the associated Hamilton–Jacobi–Bellman (HJB) equation. Then, using our results, we give a set of sufficient and a set of necessary optimality conditions which involve so-called co-state inclusion: this can be interpreted as the existence of a dual path of prices supporting the optimal path.     

Optimal dynamic pricing for sports games with habitual attendance

This paper provides a theoretical analysis of the optimal pricing decisions of a sports team that maximizes lifetime profits in sports markets where game attendance is habit‐forming for sports fans. The long‐run equilibrium price and attendance level are found to be greater than the counterparts of the static framework, respectively. The infinite horizon model shows that the pricing strategy of the firm brings about an upward‐crossing of two different dynamic price paths where the price path with stronger habit formation initially stays below, catches up, and ultimately rises above the price path with weaker habit formation. It is worth noting that the upward‐crossing phenomenon is not fully understood in a finite‐period model. Copyright © 2008 John Wiley & Sons, Ltd.     

Optimal Strategy and Business Models: A Control Theory Approach

This study picks up on earlier suggestions that control theory may further the study of strategy. Strategy can be formally interpreted as an idealized path optimizing heterogeneous resource deployment to produce maximum financial gain. Using standard matrix methods to describe the firm Hamiltonian, it is possible to formalize useful notions of a business model, resources, and competitive advantage. The business model that underpins strategy may be seen as a set of constraints on resources that can be interpreted as controls in optimal control theory. Strategy then might be considered to be the control variable of firm path, suggesting in turn that the firm's business model is the codification of the application of investment resources used to control the strategic path of value realization. Copyright © 2015 John Wiley & Sons, Ltd.     

Robustness of normal theory statistics in structural equation models*

A condition is given by which optimal normal theory methods, such as the maximum likelihood methods, are robust against violation of the normality assumption in a general linear structural equation model. Specifically, the estimators and the goodness of fit test are robust. The estimator is efficient within some defined class, and its standard errors can be obtained by a correction formula applied to the inverse of the information matrix. Some special models, like the factor analysis model and path models, are discussed in more detail. A method for evaluating the robustness condition is given.     

A turnpike theorem for rolling plans

This paper analyzes the asymptotic properties of rolling plans in a multi-sector growth model with time-independent preferences and technology. Assuming that the model under consideration has a unique turnpike towards which all the finite optimal programs bend, the paper shows that, if plans are constantly revised with a fixed but sufficiently long planninghorizon, the resulting growth path converges to a neighborhood of the turnpike.     

Parking location and transit demand: A case study of endogenous attributes in disaggregate mode choice models

This paper discusses a simultaneous model of transport mode choice and optimal parking location for the auto mode. In developing this model, four extensions of disaggregate choice theory are made that should be useful in other applications. These extensions are: (1) the formulation of an econometric model that allows for continous endogenous attributes in discrete choice decisions; (2) the use of an econometric estimation technique that is implementable using existing computer programs; (3) the development of an explicit reduced form expansion path cost model of location decisions; and (4) the extension of aggregation procedures to predict both transit demand and the spatial distribution of parking.     

基于逆向物流的产品拆卸管理

本文采用最短路径算法解决产品的最优拆卸路径的选择问题，产品拆卸众多提供源时的拆卸路径问题。     

Sustainable growth, renewable resources and pollution

Our intention is to present a growth model with an environmental resource which has its own regeneration process. The stock of this resource serves as a source of utility and an input to production. We also intend to introduce a negative externality caused by a pollution flow which we assume to be proportional to production. In the context of this model, it is shown that, by using the utility level of the Green Golden Rule as a generalization of the Ramsey's bliss point for solving an optimal growth problems with a zero discount rate, an optimal path converges to the Green Golden Rule configuration.     

探索多元化的校企合作新模式

研究与探索高等职业教育的多元化的校企合作模式,对技能型人才的培养具有重要的现实意义。文中通过对高职校企合作模式现状做简要分析,提出了优化校企合作、促进高职教育新发展的有效路径。     

Mobility and optimal tenure choice

In this paper, we offer a dynamic model of the optimal tenure behavior of an individual who faces the possibility of moving multiple times during his lifetime. We also investigate the lifetime effects of such factors as income tax, property tax, transaction costs, and mortgage rates on the household’s tenure choice. The agents in the model utilize a genetic algorithm, a probabilistic search approach, to determine their optimal lifetime tenure choice path. The agents are forward looking in that they anticipate such possible events as changes in jobs, marital status, household size, or dissatisfaction with current residence. Our results suggest several housing policy implications and explain some of the empirical findings in the literature.     

基于真实路网的车辆路径问题研究

车辆路径问题(VRP)是广泛应用于物流配送的组合优化问题。在实际应用中,传统的处理方法是先利用路网信息求出任意两点间最短路,生成完全连通图,然后进行VRP的优化求解,这样会浪费时间和空间,降低求解效率。因此,提出了一种基于真实路网的VRP建模方法,把任意两点间最短路的求解与VRP联合起来,通过仿真实验与传统的处理方法进行了比较,两种方法得到了相同的最优解,但基于真实路网的VRP建模方法在计算时间方面占优。     

Competitive equilibrium cycles with endogenous labor

In this paper, we study a two-sector optimal growth model with elastic labor supply. We show that the modified golden rule is saddle-point stable when the investment good is capital intensive. To characterize stability with a capital intensive consumption good, we focus on either additively separable or homothetic preferences. In the first specification, we show that optimal oscillations require the elasticity of intertemporal substitution in consumption to be high enough while the elasticity of labor needs to be low enough. At the same time, we prove that with a linear utility in leisure the modified golden rule is always saddle-point stable. In the second specification for preferences, we show that the local dynamic properties of the optimal path depend instead on the shares of consumption and leisure into total utility. We prove that endogenous fluctuations are even more likely with homothetic preferences.     

智能交通中单车辆最优动态路径规划策略研究

目前的交通现状,使人们无时无刻不在感受着交通拥挤、事故频发、尾气过度排放、能源供给失衡等问题,这些问题已经成为经济可持续发展中不可回避的障碍。智能交通方案是解决交通问题的一场信息化革命,动态最优路径规划策略作为智能交通出行者信息管理系统的重要问题,非常有必要值得研究。本文首先建立单车辆动态数学模型,采用基于周期的自主车辆规划算法,有效的避免拥挤的交通路段,使车辆出行代价降低,提高了车辆路径规划的实时效果和准确度。     

超限车合理径路的选择方法研究

在分析了超限车运行特点及其径路选择的影响因素的基础上,建立了基于Dijkstra算法的多约束最优路径决策模型,其中引入了广义里程的概念并给出具体算法步骤。以沈阳至哈尔滨的局部路网为实例,应用Matlab软件进行辅助求解。最后,应用综合评判法对选出的两条路径进行了进一步选优。     

我国金融业混业经营模式分析

分析中国目前混业经营状况,结合光大银行混业经营案例,给出了中国金融业未来发展混业经验的最佳模式和路径选择,即金融控股公司模式。同时还分析了我国金融业目前开展混业经营的一些主要障碍。