https://puma.ub.uni-stuttgart.de/group/simtech/methodsPUMA RSS feed for /group/simtech/methods2026-04-22T09:06:14+02:00https://puma.ub.uni-stuttgart.de/bibtex/2504fc9cccbcc450523cb5d98dd60a126/hermannhermann2017-05-18T11:32:12+02:00Finite methods control; for Numerical differential method} Singular equations; distribution; stochastic element {Dividend partial <span data-person-type="author" class="authorEditorList "><span><span itemtype="http://schema.org/Person" itemscope="itemscope" itemprop="author"><a title="Andrea Barth" itemprop="url" href="/person/1ff9e17455504f09babc5aa7b043ed09e/author/0"><span itemprop="name">A. Barth</span></a></span>, </span><span><span itemtype="http://schema.org/Person" itemscope="itemscope" itemprop="author"><a title="Santiago Moreno-Bromberg" itemprop="url" href="/person/1ff9e17455504f09babc5aa7b043ed09e/author/1"><span itemprop="name">S. Moreno-Bromberg</span></a></span>, </span> und <span><span itemtype="http://schema.org/Person" itemscope="itemscope" itemprop="author"><a title="Oleg Reichmann" itemprop="url" href="/person/1ff9e17455504f09babc5aa7b043ed09e/author/2"><span itemprop="name">O. Reichmann</span></a></span></span>. </span><span class="additional-entrytype-information"><span itemtype="http://schema.org/PublicationIssue" itemscope="itemscope" itemprop="isPartOf"><em><span itemprop="journal">COMPUTATIONAL ECONOMICS</span>, </em> <em><span itemtype="http://schema.org/PublicationVolume" itemscope="itemscope" itemprop="isPartOf"><span itemprop="volumeNumber">47 </span></span>(<span itemprop="issueNumber">3</span>): <span itemprop="pagination">447-472</span></em> </span>(<em><span>März 2016<meta content="März 2016" itemprop="datePublished"/></span></em>)</span>Thu May 18 11:32:12 CEST 2017{VAN GODEWIJCKSTRAAT 30, 3311 GZ DORDRECHT, NETHERLANDS}{COMPUTATIONAL ECONOMICS}{MAR}{3}{447-472}{A Non-stationary Model of Dividend Distribution in a Stochastic Interest-Rate Setting}{Article}{47}{2016}Finite methods control; for Numerical differential method} Singular equations; distribution; stochastic element {Dividend partial {In this paper the solutions to several variants of the so-called dividend-distribution problem in a multi-dimensional, diffusion setting are studied. In a nutshell, the manager of a firm must balance the retention of earnings (so as to ward off bankruptcy and earn interest) and the distribution of dividends (so as to please the shareholders). A dynamic-programming approach is used, where the state variables are the current levels of cash reserves and of the stochastic short-rate, as well as time. This results in a family of Hamilton-Jacobi-Bellman variational inequalities whose solutions must be approximated numerically. To do so, a finite element approximation and a time-marching scheme are employed.}