Dynamic programming – a Profit Optimization Method
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.
Volume (Year): 3 (2013)
Issue (Month): 1 (January)
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