Optimal Control Theory Applications to Management Science and Economics |
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| Author:
| Sethi, Suresh P.
Thompson, Gerald L. |
| ISBN: | 978-0-387-28092-9 |
| Publication Date: | Sep 2005 |
| Publisher: | Springer
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| Book Format: | Paperback |
| List Price: | USD $159.99 |
Book Description:
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Optimal control methods are used to determine the best ways to control a dynamic system. This book applies theoretical work to business management problems developed from the authors' research and classroom instruction. The thoroughly revised new edition has been refined with careful attention to the text and graphic material presentation. Chapters cover a range of topics including finance, production and inventory problems, marketing problems, machine maintenance and replacement,...
More DescriptionOptimal control methods are used to determine the best ways to control a dynamic system. This book applies theoretical work to business management problems developed from the authors' research and classroom instruction. The thoroughly revised new edition has been refined with careful attention to the text and graphic material presentation. Chapters cover a range of topics including finance, production and inventory problems, marketing problems, machine maintenance and replacement, problems of optimal consumption of natural resources, and applications of control theory to economics. The book incorporates new results that were not available in the first edition, as well as an expansion of the material on stochastic optimal control theory.