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Dynamic programming – a Profit Optimization Method

Author

Listed:
  • Delia Teselios

    () (Constantin Brancoveanu University)

  • Mihaela Albici

    () (Constantin Brancoveanu University)

Abstract

Dynamic programming techniques are often used in economy due to the recursive structure that many dynamic economic optimization problems have. These problems, usually having a complex form, are disintegrated into smaller sub-problems whose optimal solutions lead to the optimal solution of the original problem. In the economic study of this paper we use the backward method in which the final state of the system and the chosen policy determine the initial state of the system.

Suggested Citation

  • Delia Teselios & Mihaela Albici, 2013. "Dynamic programming – a Profit Optimization Method," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 3(1), pages 359-364, January.
  • Handle: RePEc:hur:ijaraf:v:3:y:2013:i:1:p:359-364
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    References listed on IDEAS

    as
    1. Ross Levine, 1997. "Financial Development and Economic Growth: Views and Agenda," Journal of Economic Literature, American Economic Association, vol. 35(2), pages 688-726, June.
    2. Bart Hobijn & Boyan Jovanovic, 2000. "The information technology revolution and the stock market: preliminary evidence," Proceedings, Federal Reserve Bank of San Francisco, issue Apr.
    3. Singh, Ajit & Singh, Alaka & Wiesse, Bruce, 2000. "Information technology, venture capital and the stock market," MPRA Paper 53718, University Library of Munich, Germany.
    4. Bart Hobijn & Boyan Jovanovic, 2001. "The Information-Technology Revolution and the Stock Market: Evidence," American Economic Review, American Economic Association, vol. 91(5), pages 1203-1220, December.
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