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We compare emissions taxes and quotas when a (strategic) regulator and (non-strategic) firms have asymmetric information about abatement costs, and all agents use Markov perfect decision rules. Firms make investment decisions that affect their future abatement costs. For general functional forms, firms' investment policy is information-constrained efficient(More)
We prove an existence and uniqueness result for quasi-linear Stochastic PDEs with obstacle (OSPDE in short). Our method is based on analytical technics coming from the parabolic potential theory. The solution is expressed as a pair (u, ν) where u is a predictable continuous process which takes values in a proper Sobolev space and ν is a random regular(More)
(15) can be stabilized by the proposed hybrid output feedback control scheme for a wide range of variations in the detecting time. IV. CONCLUDING REMARKS In this note, a new hybrid output feedback control scheme was proposed to stabilize a class of continuous-time LTI systems with single output. The arguments were based on the multirate sampling technique(More)
(2011) A model predictive control approach to the periodic implementation of the solutions of the optimal dynamic resource allocation problem. Automatica, 47 (2). pp. 358-362. Strathprints is designed to allow users to access the research output of the University of Strathclyde. Copyright © and Moral Rights for the papers on this site are retained by the(More)
This paper proposes a new approach to measure dependences in multivariate financial data. Data in finance and insurance often cover a long time period. Therefore, the economic factors may induce some changes inside the dependence structure. Recently, two methods using copulas have been proposed to analyze such changes. The first approach investigates(More)