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Two-stage optimal control models are a useful tool to model stochastic shocks, which have the potential to significantly alter the characteristics of a dynamic system, but cannot be controlled by the decision maker. Applications can be found in a wide range of topics including health and environmental economics. The Julia package recently received and update to version v0.2.0.

The MORIBE model is a framework which allows for the incorporation of stochastic elements in the dynamic decision making of different economic actors.