Amitava, Bagchi; P, Dhavale N; Verma, Sanjay - Economics, Indian Institute of Management
In a recent paper, Icmeli and Erengue (1996) present an algorithm to maximize the Net Present Value (NPV) of a given project under renewable resource constraints. It is shown here, with the help of an example, that in some cases the algorithm fails to find an optimal solution. A simple...