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外文翻译 Optimal impulse control for a multidimensional cash management system with generalized cost functions（节选） Auditor： Stefano Baccarin Nationality：I-10122 Turin, Italy Derivation：European Journal of Operational Research ，NO.196 ，2009， PP.198–206 Abstract We consider the optimal control of a multidimensional cash management system where the cash balances ?uctuate as a homogeneous diffusion process. We formulate the model as an impulse control problem on an unbounded domain with unbounded cost functions. Under general assumptions we characterize the value function as a weak solution ofa quasi-variational inequality in a weighted Sobolev space and we show the existence of an optimal policy. Moreover we prove the local uniform convergence of a ?nite element scheme to compute numerically the value function and the optimal cost. We compute the solution of the model in two-dimensions with linear and distance cost functions, showing what are the shapes of the optimal policies in these two simple cases. Finally our third numerical experiment computes the solution in the realistic case of the cash concentration of two bank accounts made by a centralized treasury. Introduction The cash management problem has been considered in the mathematical fnance literature only in dimension one. From the pioneer works of Baumol (1952), Tobin (1956), Miller and Orr(1966), it originated the main mathematical model used by the theory of the transactions and precautionary demand for money. The decisive improvement in solving the model was the use of the optimal control technique of ‘‘impulse control”, introduced by Bensoussan and Lions (1973, 1975). Assuming linear holding/penalty costs,,fixed plus proportional costs of control and the cash stock dynamics described by a generalized Brownian motion, Constantinides and Richard (1978)first showed the existence of a simple optimal impulse policy of a control band type. Harrison et al.(1983), proved a similar result assuming a nonnegative con