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...
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| Main Authors: | , |
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| Format: | Article |
| Published: |
IOS Press
2017
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| Subjects: | |
| Online Access: | https://repo.uum.edu.my/id/eprint/21582/ http://doi.org/10.3233/JIFS-16065 |
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