Here, two highly experienced authors present an alternative approach to optimal stopping problems. The basic ideas and techniques of the approach can be explained much simpler than the standard methods in the literature on optimal stopping problems. The monograph will teach the reader to apply...

Introduction/preface -- Failure of the Fed, IMF, academic profession to anticipate the crisis, disregarded warnings -- Failure of the Quants, mathematical finance models -- Philosophy of Stochastic optimal control approach, relation to M-V analysis; Sensitivity of optimal debt and risk to...

This fully revised 3rd edition offers an introduction to optimal control theory and its diverse applications in management and economics. It brings to students the concept of the maximum principle in continuous and discrete time by using dynamic programming and Kuhn-Tucker theory. While some...

This textbook is intended for an introductory graduate level on process control, taught in most engineering curricula. It focuses on the statistical techniques and methods of control and system optimization needed for the mathematical modeling, analysis, simulation, control and optimization of...

Optimization Theory and Algorithms -- On the Asymptotic Behavior of a System of Steepest Descent Equations Coupled by a Vanishing Mutual Repulsion -- Inverse Linear Programming -- Second-Order Conditions in C1,1 Vector Optimization with Inequality and Equality Constraints -- Benson Proper...

1 Macroeconomic Policies and Instrument Instability -- 1.1 A Keynesian Economy under the Government Budget Constraint -- 1.2 Optimal Policies by Means of Two Instruments -- 1.3 A Combination Policy -- 1.4 The Case Allowing Instrument Cost -- 1.5 Formulation of a Standard Control System --...

Because of the clearly important role cooperative systems play in areas such as military sciences, biology, communications, robotics, and economics, just to name a few, the study of cooperative systems has intensified. This book provides an insight in the basic understanding of cooperative...

Introduction -- Classical Techniques -- Integer Programming -- Genetic Algorithms -- Scatter Search -- Genetic Programming -- Artificial Immune Systems -- Swarm Intelligence -- Tabu Search -- Simulated Annealing -- GRASP: Greedy Randomized Adaptive Search Procedures -- Variable Neighborhood...

Einführung -- Materialplanung bei konventioneller und kreislaufgeführter Produktion -- Materialplanung bei externen Produktkreisläufen -- Materialplanung bei internen Produktkreisläufen -- Schlussbetrachtung.

This book presents the latest findings on stochastic dynamic programming models and on solving optimal control problems in networks. It includes the authors’ new findings on determining the optimal solution of discrete optimal control problems in networks and on solving game variants of Markov...