Turnpike Set Analysis in Stochastic Manufacturing Systems with Long-Run Average Cost

This paper considers an optimal production planning problem for an infinite horizon stochastic manufacturing system with long-run average cost criterion. The optimal feedback control is characterized by turnpike sets with the aid of viscosity solutions to the dynamic programming equations. The structure of the turnpike sets is analyzed. It is shown that the turnpike sets exhibit the monotone property with respect to the system's production capacity

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Year of publication:	2020
Authors:	Sethi, Suresh
Other Persons:	Yan, Houmin (contributor) ; Zhang, Hanqin (contributor) ; Zhang, Qing (contributor)
Publisher:	[2020]: [S.l.] : SSRN

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Extent:	1 Online-Ressource (10 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Optimal Control and Partial Differential Equations in Honour of Professor Alain Bensoussan’s 60th Birthday, J.L. Menaldi, E. Rofman, and A. Sulem (Eds.), IOS Press, Amsterdam, 2001, 414-423 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 2001 erstellt
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; M11 - Production Management ; M20 - Business Economics. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012836859