Self-perpetuation of a stochastically varying resource pool
A computer-readable medium has encoded thereon software for maintaining a steady-state worth of an inhomogenous renewable resource pool. The software includes instructions for causing a data-processing system to evaluate an indicator of a historical worth of the resource pool, to determine a draw amount at least in part on the basis of this indicator, and to output data representative of that draw amount.
1. A computer program product tangibly embodied on a non-transitory computer-readable storage device for\managing a resource pool, the computer program product comprising instructions for causing a data-processing system to:
maintain a steady state worth of an inhomogeneous renewable resource pool, by instructions to:
evaluate an indicator of a historical worth of the inhomogeneous renewable resource pool, wherein evaluating an indicator comprises retrieving, by the data processing system, time series data indicative of the historical worth of the resource pool, and
determine a draw amount from the inhomogeneous renewable resource pool, the draw amount determined at least in part on the basis of the indicator; and
output data representative of the draw amount determined so as to maintain the steady state worth of the inhomogeneous renewable resource pool.
2. The computer-readable medium of claim 1 , wherein the instructions for causing a data processing system to evaluate an indicator comprise instructions for causing a data processing system to low=pass filter the time series data.
3. The computer-readable medium of claim 1 , wherein the instructions for causing a data processing system to evaluate an indicator comprise instructions for causing a data processing system to determine an average value of the time series data.
4. The computer-readable medium of claim 1 , wherein the instructions for causing a data processing system to evaluate an indicator comprise instructions for causing a data processing system to retrieve synthetic time series data indicative of what a historical worth of the renewal resource pool would have been.
5. The computer-readable medium of claim 1 , wherein the instructions for causing a data processing system to determine a draw amount comprise instructions for causing a data processing system to determine a pre-determined fraction of the historical worth.
6. The computer-readable medium of claim 1 , wherein the software further comprises instructions for causing a data processing system to adjust the draw amount on the basis of an external constraint on the draw amount.
7. The computer-readable medium of claim 1 , wherein the software further comprises instructions for retrieving data indicative of historical worth of an endowment fund, and wherein the instructions for causing a data processing system to evaluate an indicator of historical worth comprise instructions for causing a data processing system to retrieve a plurality of selected values indicative of a corresponding plurality of worths of the endowment fund at each of a plurality of times.
8. The system of claim 1 , wherein the instructions for causing the one or more computers to evaluate an indicator comprise instructions for causing a data processing system to retrieve synthetic time series data indicative of what a historical worth of the renewal resource pool would have been.
9. The system of claim 1 , wherein the instructions for causing the one or more computers to determine a draw amount comprise instructions for causing a data processing system to determine a pre-determined fraction of the historical worth.
10. The system of claim 1 , wherein the instructions are further operable, when executed by the one or more computers, to cause the one or more computers to perform operations comprising causing a data processing system to adjust the draw amount on the basis of an external constraint on the draw amount.
11. A computer-implemented method comprising:
maintaining, by one or more computer systems, a steady-state worth of an inhomogeneous renewable resource pool by:
evaluating, by the one or more computer systems, an indicator of a historical worth of the inhomogeneous renewable resource pool, wherein evaluating an indicator comprises retrieving by the computer system, time series data indicative of the historical worth of the resource pool,
determining, by the one or more computer systems, a draw amount from the inhomogeneous renewable resource pool, the draw amount determined at least in part on the basis of the indicator; and
outputting, by the one or more computer systems, data representative of the draw amount determined so as to maintain the steady state worth of the inhomogeneous renewable resource pool.
12. The method of claim 11 , wherein evaluating an indicator comprises low-pass filtering the time series data.
13. The method of claim 11 , wherein evaluating an indicator comprises determining an average value of the time series data.
14. The method of claim 11 , wherein evaluating an indicator comprises retrieving synthetic time series data indicative of what a historical worth of the renewal resource pool would have been.
15. The method of claim 11 , wherein determining a draw amount comprises determining a pre-determined fraction of the historical worth.
16. The method of claim 11 , further comprising adjusting the draw amount on the basis of an external constraint on the draw amount.
17. The method of claim 11 , wherein the inhomogeneous resource pool is an endowment fund, the method further comprising:
retrieving data indicative of an historical worth of the endowment fund, and
wherein evaluating an indicator of historical worth comprises retrieving a plurality of selected values indicative of the worth of the endowment fund at each of a corresponding plurality of times.
18. A system comprising:
one or more computers and one or more storage devices storing instructions that are operable, when executed by the one or more computers, to cause the one or more computers to perform operations comprising:
maintaining, by one or more computer systems, a steady-state worth of an inhomogeneous renewable resource pool by:
evaluating, by the one or more computer systems, an indicator of a historical worth of the inhomogeneous renewable resource pool, wherein evaluating an indicator comprises retrieving by the computer system, time series data indicative of the historical worth of the resource pool,
determining, by the one or more computer systems, a draw amount from the inhomogeneous renewable resource pool the draw amount determined at least in part on the basis of the indicator; and
outputting, by the one or more computer systems, data representative of the draw amount determined so as to maintain the steady state worth of the inhomogeneous renewable resource pool.
19. The system of claim 18 , wherein instructions for causing the one or more computers to evaluate an indicator comprise instructions for causing a data processing system to low-pass filter the time series data.
20. The system of claim 18 , wherein the instructions for causing the one or more computers to evaluate an indicator comprise instructions for causing a data processing system to determine an average value of the time series data.