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We consider two control problems on a finite horizon; one stochastic and the other deterministic. In both problems the running cost and the terminal cost are the same. The controllable input in both problems is of an additive nature with cost proportional to the input (which can be both positive...
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This paper considers an infinite horizon stochastic production planning problem with demand assumed to be a continuous-time Markov process. Problems with control (production) and state (inventory) constraints are treated. It is shown that a unique optimal feedback solution exists. This solution...
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