A Dynamic Programming Model of the U.S. Strategic Petroleum Reserve
A Dynamic Programming Model of the U.S. Strategic Petroleum Reserve
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DOI:
10.2307/3003570
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发表时间:
1981
期刊:
影响因子:
--
通讯作者:
T. Teisberg
中科院分区:
文献类型:
--
作者:
T. Teisberg
This article develops a stochastic dynamic programming model which may be used to obtain optimal acquisition and sale strategies for the U.S. oil reserve. The model incorporates quota or tariff policies which may be used in conjunction with the stockpile policy. Although the main focus is on U.S. stockpile policy, a joint consumer country policy is also considered. The analysis indicates the importance of the degree of oil supply response in determining the effectiveness of a stockpile policy.