Search Results - subject:"OPTIMAL CONTROL"

Two-Armed Restless Bandits with Imperfect Information : Stochastic Control and Indexability

Fryer, Roland G, Jr - 2013

We present a two-armed bandit model of decision making under uncertainty where the expected return to investing in the "risky arm'' increases when choosing that arm and decreases when choosing the "safe'' arm. These dynamics are natural in applications such as human capital development, job...

Persistent link: https://www.econbiz.de/10012459619

Optimal Control of a Nested-Multiple-Product Assemble-to-Order System

Elhafsi, Mohsen - 2013

In this paper, we study an assemble-to-order system consisting of n products assembled from a subset of m distinct components where the products have a modular nested design. i.e., product i has only one additional component more than product i-1. In particular, we study the optimal production...

Persistent link: https://www.econbiz.de/10012753341

Behavioral Implications of Rational Inattention with Shannon Entropy

Caplin, Andrew - 2013

The model of rational inattention with Shannon mutual information costs is increasingly ubiquitous. We introduce a new solution method that lays bare the general behavioral properties of this model and liberates development of alternative models. We experimentally test a key behavioral property...

Persistent link: https://www.econbiz.de/10013077941

An Iterative Simulation Approach for Solving Stochastic Control Problems in Finance

Yang, Chunyu - 2013

We develop a numerical method that combines functional approximations and dynamic programming to solve high-dimensional discrete-time stochastic control problems under general constraints. The method employs quasi-random grids and radial basis functions to handle high-dimensional state spaces;...

Persistent link: https://www.econbiz.de/10013078890

Fractional-Order Optimal Control of Fractional-Order Linear Vibration Systems with Time Delay

Balochian, Saeed; Rajaee, Nahid - In: International Journal of System Dynamics Applications … 7 (2018) 3, pp. 72-93

-order optimal control is provided to minimize both control input and output of delayed system via quadratic objective function. To … through a particular transformation. Then, a fractional order optimal controller is provided using the classical optimal … control theory to find an optimal input control. A delayed viscose system is then presented as a practical worked-out example …

Persistent link: https://www.econbiz.de/10012047478

Minimizing the probability of ruin : optimal per-loss reinsurance

Liang, Xiaoqing; Young, Virginia R. - In: Insurance / Mathematics & economics 82 (2018), pp. 181-190

Persistent link: https://www.econbiz.de/10011929867

Urban trees and water use in arid climates : insights from an integrated bioeconomic-health model

Jones, Benjamin A.; Fleck, John - In: Water economics and policy 4 (2018) 4, pp. 1-38

Persistent link: https://www.econbiz.de/10011989919

Optimal strategy for a fund manager with option compensation

Nicolosi, Marco - In: Decisions in economics and finance : DEF ; a journal of … 41 (2018) 1, pp. 1-17

Persistent link: https://www.econbiz.de/10011997013

Control systems and mathematical methods in economics : essays in honor of Vladimir M. Veliov

Feichtinger, Gustav (ed.); Kovacevic, Raimund (ed.); … - 2018

Persistent link: https://www.econbiz.de/10011861059

Dynamic performance and stability research of VMI-APIOBPCS in apparel industry based on control theory

Zhan, Xueli; Zhang, Qin; Xie, Wenfeng - In: International journal of enterprise information systems … 14 (2018) 2, pp. 56-76

Persistent link: https://www.econbiz.de/10011863608