Dynamic optimization with hybrid numbers: two case studies
AbstractDynamic programming is an optimization system method or its mathematical representation, operating in phases, in other words, decisions are made sequentially. In many situations the available information is not homogeneous, this is objective data and uncertain one. In these cases, the use of hybrid numbers which combine randomness with fuzziness is useful to avoid losing information. In the present paper dynamic programming is applied in two cases: the design of a highway which construction should have the lowest possible cost and the distribution of investments in advertising which should provide the maximum benefit. In both situations, the values obtained with the available information are expressed by means of hybrid numbers, using a different representation in each case.
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Bibliographic InfoArticle provided by Universidad del País Vasco - Instituto de Economía Aplicada a la Empresa (IEAE) in its journal Cuadernos de Gestión.
Volume (Year): 6 (2006)
Issue (Month): 2 ()
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Postal: Instituto de Economía Aplicada a la Empresa, Revista Cuadernos de Gestión, Facultad de CC. Económicas y Empresariales, Universidad del País Vasco, Avda. Lehendakari Aguirre 83, 48015 Bilbao, Spain
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