On Use of the Method of Dynamic Programming of Bellman in Economic Tasks
Method of dynamic programming (MDP) of Bellman is exceptionally efficient for solving a wide class of tasks of economic and mathematical modelling. In a number of cases MDP has no alternative. Meanwhile, statements of specialists with respect to correctness of justification of MDP and also with respect to achievements of R. Bellman are contradictory. In any case, that was the situation during the period of activity of R. Bellman and his opponents. Analysis shows that, to a big extent, these contradictions were caused by competition between Soviet and American scientists at the stage of space exploration. MDP ids based on the Bellman's principle of optimality, which could be characterised as purely ingenious. This is an extremely transparent algorithm of the search for global extremum and is ideally fit for capabilities of computing equipment. Heritage of R. Bellman is great: from the optimal management, differential equations and game theory to economy and medicine. At the same time, methodological approaches of R. Bellman are far from orthodox views on mathematics, which partially explains critics in his address. Heritage of R. Bellman (619 articles and 39 books translated into many languages) deserves a thorough study including perspective of his economic and mathematical magnitude.
Volume (Year): (2013)
Issue (Month): 6 ()
|Contact details of provider:|| Web page: http://www.business-inform.net|
When requesting a correction, please mention this item's handle: RePEc:idp:bizinf:y:2013:i:6:p:110_119. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alexey Rystenko)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.