| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 4634205 | Applied Mathematics and Computation | 2008 | 12 Pages |
Abstract
We describe a version of the dynamic programming method, applicable to infinite-horizon discrete-time stochastic processes, and use this technique to solve a stylized problem of management of an economy effected by random natural hazards. Also, we characterize the equilibrium points in a game, in which two economies invest in common prevention measures to mitigate the future impact of natural hazards.
Keywords
Related Topics
Physical Sciences and Engineering
Mathematics
Applied Mathematics
Authors
A. Kryazhimskiy, M. Obersteiner, A. Smirnov,