Dynamic Management Decision and Stochastic Control Processes

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World Scientific, 1990 - Business & Economics - 221 pages
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This book treats stochastic control theory and its applications in management. The main numerical techniques necessary for such applications are presented. Several advanced topics leading to optimal processes are dismissed. The book also considers the theory of some stochastic control processes and several applications to illustrate the ideas.
 

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Contents

INTRODUCTION
1
Numerical Solution
11
DERIVATION OF LEVINSONS PROCEDURE
17
Comparison
25
INVARIANT IMBEDDING AND
34
Comparison between the Two Methods
42
Inventory System Design
49
Areas for Futher Research
55
FUZZY CONTROL PROCESSES I
124
Optimal Policy
130
Discussion
136
Optimal Policy for an Adaptive Control Process
144
Discussion
151
Optimum Policy
160
Discussion
169
Numerical Example
176

OPTIMAL INVENTORY PROCESSES WITH
58
Discussion
64
Probabilistic Model
72
Conclusion
81
Conjunctive Surface and Ground Water
87
STOCHASTIC CONTROL PROCESSES AND
94
Applications
100
CONTROL CHART AND STOCHASTIC
184
Optimal Control of Linear System
190
Minimization of Membership Function
196
Combined Use of Runs
201
SUBJECT INDEX
215
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