Impulse control maximum principle: Theory and applications
AbstractThe contribution of this paper is threefold. First, this thesis extends the existing theory on Impulse Control by deriving the necessary optimality conditions in current value formulation and provide a transformation such that the Impulse Control Maximum Principle can be applied to problems having a fixed cost. Moreover, this thesis points out that meaningful problems do not satisfy the sufficiency conditions. Second, in this thesis the Impulse Control Maximum Principle is applied to dike height optimization, forest management and product innovation. Third, this thesis describes several algorithms that can be used to solve Impulse Control problems
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Bibliographic InfoPaper provided by Tilburg University in its series Open Access publications from Tilburg University with number urn:nbn:nl:ui:12-5904399.
Date of creation: 2013
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Publication status: Published
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Web page: http://www.tilburguniversity.edu/
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