We develop a general filtering framework for the problem of estimating the state of a system whose dynamics is governed by a discrete-time Markov process. We describe applications to inventory control systems with partial observations. We introduce conditional distributions and unnormalized...

In this paper, we study a firm's dynamic pricing problem in the presence of unknown and time-varying heterogeneity in customers' preferences for quality. The firm offers a standard product as well as a premium product to deal with this heterogeneity. First, we consider a benchmark case in which...

This paper presents an extension of earlier research on heirarchical control of stochastic manufacturing systems with linear production costs. A new method is introduced to construct asymptotically optimal open-loop and feedback controls for manufacturing systems in which the rates of machine...

This paper is concerned with an asymptotic analysis of hierarchical production and setup scheduling in a stochastic manufacturing system consisting of a single failure-prone machine and facing constant demands for a number of products. At any given time the system can only produce one type of...