The Natural Resource Curse literature started with a clear consensus that dependence on natural resources have direct negative effects economic growth and levels of democracy. However, the today reflects debate is still going where several papers evidence against hypothesis, which provides many open avenues for further research. This paper surveys resource curse identifies main arguments findin...

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We consider mixed-integer recourse (MIR) models with a single recourse constraint. We relate the secondstage value function of such problems to the expected simple integer recourse (SIR) shortage function. This allows to construct convex approximations for MIR problems by the same approach used for SIR models.

Measuring and managing risk has become crucial in modern decision making under stochastic uncertainty. In two-stage stochastic programming, mean risk models are essentially defined by a parametric recourse problem and a quantification of risk. From the perspective of qualitative robustness theory, we discuss sufficient conditions for continuity of the resulting objective functions with respect ...

We consider the objective function of a simple recourse problem with fixed technology matrix and integer second-stage variables. Separability due to the simple recourse structure allows to study a one-dimensional version instead. Based on an explicit formula for the objective function, we derive a complete description of the class of probability density functions such that the objective functio...

There is an economic natural resource curse as well as a political natural resource curse. The economic literature identifies certain characteristics of countries that are likely to fall victims to the former curse. ent literature on the y to explore the question In this essay we draw on these characteristics, rec political natural resource curse and Cuba’s histor of how likely is Cuba to fall...

We discuss the performance of the convex approximations introduced by Van der Vlerk [2004] for the class of integer recourse problems with totally unimodular (TU) recourse matrices. We show that the main result in Van der Vlerk [2004] needs stronger assumptions, so that a performance guarantee for the convex approximations is lacking in general. In order to obtain such a performance guarantee, ...

We consider the other direction: the 2-stage stochastic programming problem (or also called stochastic recourse problem). Conceptually one should think of the decision process taking place in two stages. In the first, values for the first stage variables x are chosen. In the second, upon a realisation of the random parameters, a recourse action is to be taken in case of infeasibilities. Costs a...