Optimal Hunting Strategies

This lecture discusses optimal hunting strategies based on a model where a person can choose to hunt for a specific animal or stay at home. The lecture covers the conditions under which hunting is optimal, considering factors such as animal population, capture probability, and hunting costs. It also explores scenarios involving uncertain future oil prices and the decision to invest in a new extraction machine. Additionally, the lecture delves into linear systems and policies for minimizing costs in the presence of disturbances and random variables.