Extended optimal stochastic production control model with application to economics
This study considers an inventory control system meeting uncertain demand in continuous time.The demand is a function of both time and price, with the price evolves as a Wiener process with no drift. The goal is to use the stochastic optimal control principle to completely solve a production plannin...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Article |
| Published: |
IOS Press
2017
|
| Subjects: | |
| Online Access: | http://repo.uum.edu.my/21582/ http://doi.org/10.3233/JIFS-16065 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|