Search Results - subject:"Dynamic programming"

Optimal Production Policies for Multi-Stage Systems with Setup Costs and Uncertain Capacities

Hwang, Juhwen; Singh, Medini R. - In: Management Science 44 (1998) 9, pp. 1279-1294

The increased complexity of modern manufacturing has led to uncertainties in production processes. Factors such as unplanned machine maintenance, tool unavailability, and complex process adjustments make it difficult to maintain a predictable level of output. To be effective, an appropriate...

Persistent link: https://www.econbiz.de/10009204167

An Analysis of Bid-Price Controls for Network Revenue Management

Talluri, Kalyan; Ryzin, Garrett van - In: Management Science 44 (1998) 11-Part-1, pp. 1577-1593

Bid-prices are becoming an increasingly popular method for controlling the sale of inventory in revenue management applications. In this form of control, threshold---or "bid"---prices are set for the resources or units of inventory (seats on flight legs, hotel rooms on specific dates, etc.) and...

Persistent link: https://www.econbiz.de/10009197653

Dynamic Programming and the Economics of Optimal Grain Storage

Plato, Gerald; Gordon, Douglas - In: Agricultural Economics Research (1983) 1

Understanding the dynamic programming algorithms used In the optimal grain storage literature IS a prerequisite to … understanding the findings of this literature This article Introduces these dynamic programming algorithms by examining several In …

Persistent link: https://www.econbiz.de/10010881972

On the relative efficiency of nth order and DARA stochastic dominance rules

Basso, Antonella; Pianca, Paolo - In: Applied Mathematical Finance 4 (1997) 4, pp. 207-222

It is known that third order stochastic dominance implies DARA dominance while no implications exist between higher orders and DARA dominance. A recent contribution points out that, with regard to the problem of determining lower and upper bounds for the price of a financial option, the DARA...

Persistent link: https://www.econbiz.de/10005639868

Uncertain climate change in an intergenerational planning model

Torvanger, Asbjørn - In: Environmental & Resource Economics 9 (1997) 1, pp. 103-124

, reducing the productivity for this and the remaining generation. The model is solved by stochastic dynamic programming. If the …

Persistent link: https://www.econbiz.de/10005684246

The two-convex-polygons TSP: A solvable case

García, Alfredo; Tejel, F. - In: TOP: An Official Journal of the Spanish Society of … 5 (1997) 1, pp. 105-126

Persistent link: https://www.econbiz.de/10005371437

On Dynamic Programming with Unbounded Returns

Duran, Jorge - Institut de Recherche Économique et Sociale (IRES), … - 1997

Some economic models like those of endogenous growth motivate the analysis of a class of recursive models sharing the property that the return function is not bounded along feasible paths. We consider a strategy of proof which allows to deal with many unbounded recursive models exploiting bounds...

Persistent link: https://www.econbiz.de/10004985125

Dynamic economics : optimization by the Lagrange Method

Chow, Gregory C. - 1997

introduces the Lagrange method as a more convenient tool than dynamic programming for solving dynamic optimization problems … optimization problems than dynamic programming, and so enables readers to grasp the substance of dynamic economics more fully. He … -- 2.2 The Method of Dynamic Programming by an Example -- 2.3 Solution of a Standard Dynamic Optimization Problem -- 2 …

Persistent link: https://www.econbiz.de/10012685734

Estimating models of dynamic optimization with microeconomic data

Miller, Robert Allen - 1997

Persistent link: https://www.econbiz.de/10001328884

Solving large-scale rational-expectations models

Gaspar, Jess - In: Macroeconomic dynamics 1 (1997) 1, pp. 45-75

Persistent link: https://www.econbiz.de/10001337439