Purpose – The main purpose of this paper is to present an optimal economic solution for a different adaptive sampling method that is highly intuitive in its nature: the normal sampling intervals (NSI) method. Design/methodology/approach – Considering costs associated with sampling, false...

This paper is concerned with singular stochastic control for non-degenerate problems. It generalizes the previous work in that the model equation is nonlinear and the cost function need not be convex. The associated dynamic programming equation takes the form of variational inequalities. By...