On the Optimality of Myopic Policies in Sequential Decision Problems

A sufficient condition for the optimality of myopic policies is derived for a class of sequential decision problems. A necessary condition is also derived. The usefulness of the sufficient condition is illustrated in the context of a dynamic portfolio selection problem, a matched sampling problem, and a multi-item inventory model.

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Year of publication:	1975
Authors:	Dirickx, Yvo M. I. ; Jennergren, L. Peter
Published in:	Management Science. - Institute for Operations Research and the Management Sciences - INFORMS, ISSN 0025-1909. - Vol. 21.1975, 5, p. 550-556
Publisher:	Institute for Operations Research and the Management Sciences - INFORMS

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Extent:	application/pdf
Type of publication:	Article
Other identifiers:	10.1287/mnsc.21.5.550 [DOI]
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009198012