Ellis, a booming mid-sized town in California's Central Valley, is packed with farmers and commuters, and plagued with a dwindling sense of itself and its history. Set against the backdrop of a failed murder-suicide, a secret affair and a wealthy local mogul's attempt to develop the town into something it's...
This dissertation consists of three papers studying optimization, conservation
and valuation of contingent claims in economic resource nianagement under
uncertainty.
In the first paper the Markovian optinial policies are studied for resource
management in a finite time horizon. Under sonic conditions, in particular, when
the prices are stochastic and there...