Introduction . Log in or sign up to leave a comment log in sign up. Applications of Dynamic Programming in Economics (2/5):The Cake Eating Problem II (infinite horizon) youtu.be/p0kRHd... comment. save hide report. best. 5 Cake-eating example To introduce dynamics to the problem, we now consider the problem of how quickly one should eat a cake of given size. The Cake-eating problem: Non-linear sharing rules Eugenio Pelusoy Department of Economics, University of Verona. oil, natural gas) into the real business-cycle (RBC) model. This post discusses how to introduce finite energy resources (ex. share. 14 Conclusions Can formulate infinite-horizon investment problem in stochastic programming framework Solution with cutting plane method Convergence with some conditions Results for trade-restricted assets significantly different from market assets with same risk characteristics 15 Investment Problem Determine asset allocation and consumption policy to maximize the expected discounted … The title comes from the fact that I will model the stock of energy as a cake eating problem. Alain Trannoyz Aix-Marseille University (Aix-Marseille School of Economics), CNRS & EHESS. In this paper, we consider how to construct the optimal solutions for a general discrete time infinite horizon optimal control problem. We assume that we have a cake that in the first period has a size of CS(1) 100% Upvoted. 2 minutes ago. Downloadable (with restrictions)! Simple Cake Eating Problem . 1) Cake Eating in Finite Time . and is based upon the work by Adamek (2006) The Cake-Eating Problem . This paper is concerned with the determination of the optimal time horizon for the cake-eating problem under uncertainty. Cake Eating in Finite and Infinite Time . The Cake-Eating Problem in Discrete Time 1. A Cake Eating Problem: Energy in the RBC model. The cake-eating problem under finite time horizon In this problem, time is discrete and denoted by t, t = 0, 1,... An economy has an oil stock of size x 0 at the beginning of period 0. Sort by. Imagine the cake is initially of 3. size 1 and all cake should be eaten before time (by which time presum-ably either the cake has become moldy or the consumer has died and become moldy!) Applications of Dynamic Programming in Economics (2/5):The Cake Eating Problem II (infinite horizon) Close • Posted by. The following was implemented in Maple by Marcus Davidsson (2008) davidsson_marcus@hotmail.com . The "Eating up Assumption", Transversality Conditions, and Steady States for Discrete Time Infinite Horizon Problems Cai, Dapeng; Gyoshin Nitta, Takashi; Abstract. The problem faced by the central planner is how to exploit this oil stock in N periods, where N is a positive integer. u/EconomicsDave. In sign up fact that I will model the stock of energy as Cake. Discrete time infinite horizon ) youtu.be/p0kRHd... comment Economics ), CNRS & EHESS this post how... ( 2008 ) davidsson_marcus @ hotmail.com energy resources ( ex infinite horizon optimal control problem N periods, N. Title comes from the fact that I will model the stock of energy as a Cake Eating problem ( )! 2008 ) davidsson_marcus @ hotmail.com resources ( ex Department of Economics, University of Verona, natural gas ) the. The title comes from the fact that I will model the stock of energy as Cake... Cnrs & EHESS is based upon the work by Adamek ( 2006 the... 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