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The structure of dynamic programing models

Naval Research Logistics QuarterlyPublished 1 December 1955
Samuel Karlin
Citations60

Abstract

Abstract This paper discusses the structure and formulation of dynamic programing models. R. Bellman's “Principle of Optimality” is reexamined for deterministic models. A formulation of the general stochastic dynamic programing model ie given and applied to an inventory model.

Keywords

Decision SciencesEngineeringBusiness, Management and Accounting