best. 100% Upvoted. Applications of Dynamic Programming in Economics (2/5):The Cake Eating Problem II (infinite horizon) Close • Posted by. 1) Cake Eating in Finite Time . u/EconomicsDave. This post discusses how to introduce finite energy resources (ex. Simple Cake Eating Problem . 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 "Eating up Assumption", Transversality Conditions, and Steady States for Discrete Time Infinite Horizon Problems Cai, Dapeng; Gyoshin Nitta, Takashi; Abstract. share. 2 minutes ago. We assume that we have a cake that in the first period has a size of CS(1) The following was implemented in Maple by Marcus Davidsson (2008) davidsson_marcus@hotmail.com . The Cake-Eating Problem in Discrete Time 1. 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!) The title comes from the fact that I will model the stock of energy as a cake eating problem. save hide report. In this paper, we consider how to construct the optimal solutions for a general discrete time infinite horizon optimal control problem. The Cake-eating problem: Non-linear sharing rules Eugenio Pelusoy Department of Economics, University of Verona. Cake Eating in Finite and Infinite Time . Alain Trannoyz Aix-Marseille University (Aix-Marseille School of Economics), CNRS & EHESS. This paper is concerned with the determination of the optimal time horizon for the cake-eating problem under uncertainty. 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 … Downloadable (with restrictions)! The problem faced by the central planner is how to exploit this oil stock in N periods, where N is a positive integer. and is based upon the work by Adamek (2006) The Cake-Eating Problem . Introduction . 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. Log in or sign up to leave a comment log in sign up. oil, natural gas) into the real business-cycle (RBC) model. Applications of Dynamic Programming in Economics (2/5):The Cake Eating Problem II (infinite horizon) youtu.be/p0kRHd... comment. Sort by. A Cake Eating Problem: Energy in the RBC model.

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