Vorträge und Posterpräsentationen (ohne Tagungsband-Eintrag):
J. Grames, D. Grass, P. Kort, A. Fürnkranz-Prskawetz:
"Modelling the interaction between a flooding event and firms profit maximization using impulse control theory";
Vortrag: 17th International Symposium on Dynamic Games and Applications,
Urbino, Italy;
12.07.2016
- 15.07.2016.
Kurzfassung englisch:
Flooding events can affect industries close to rivers or coasts. We consider a possible flood at an unknown time in a firms profit maximizing problem. The firm chooses optimal investment in physical capital, labor and maintenance, and impulse investments in flood defense capital. To solve that problem we use Impulse Control Theory, where timing and amount of investments are chosen by the firm.
We find that investments in flood defense are only optimal if the firm simultaneously invests in physical capital and maintenance. We proof these results analytically and provide numerical solutions.
Erstellt aus der Publikationsdatenbank der Technischen Universität Wien.