An alternative approach towards dynamic programming (DP) is presented: Recursions. A basic deterministic model and solution function are defined and the model is generalized to include stochastic processes, with the traditional stochastic DP model as a special case. Heuristic rules are included in the models simply as restrictions on decision spaces and a small slaughter pig marketing planning ...

The control problem and Dynamic programming is a powerful tool in economics and management. We review the dynamic programming problem from its beginning up to its present stages. A problem which was involved in physics and mathematics in I 7” century led to a branch of mathematics called calculus of variation which was used in economic, and management at the end of the first quarter of the 20” ...

Retailers’ efforts to monetize consumer location data remain dominated by inefficient protocols (e.g., geofencing) that customize marketing interactions based solely on app users’ current location. Although extant trajectory mining techniques can remedy these shortcomings, they require high-frequency data, which poses severe risks consumers’ privacy. The authors present a novel method extract v...

An alternative approach towards dynamic programming (DP) is presented: Recursions. A basic deterministic model and solution function are defined and the model is generalized to include stochastic processes, with the traditional stochastic DP model as a special case. Heuristic rules are included in the models simply as restrictions on decision spaces and a small slaughter pig marketing planning ...

Abstract In this paper, we study multistage stochastic mixed-integer nonlinear programs (MS-MINLP). This general class of problems encompasses, as important special cases, convex optimization with non-Lipschitzian value functions and linear optimization. We develop dual dynamic programming (SDDP) type algorithms nested decomposition, deterministic sampling, sampling. The key ingredient is a new...

This paper addresses the problem of allocating high-voltage transformer spares throughout the electric grid to mitigate the risk of random transformer failures. With this application we investigate the use of approximate dynamic programming (ADP) for solving large scale stochastic facility location problems. The ADP algorithms that we develop consistently obtain near optimal solutions for probl...

Distribution center links the relief suppliers and affected people, making it an indispensable part in the transportation network of earthquake relief supplies. Therefore, the location of distribution center for earthquake relief supplies has significant influence on transportation cost, operation efficiency and logistics performance, which are important in reducing loss of lives and property. ...