Linear and Dynamic Programming in Markov Chains*
作者:
Yoav Kislev,
Amotz Amiad,
期刊:
American Journal of Agricultural Economics
(WILEY Available online 1968)
卷期:
Volume 50,
issue 1
页码: 111-129
ISSN:0002-9092
年代: 1968
DOI:10.2307/1237875
出版商: Oxford University Press
数据来源: WILEY
摘要:
AbstractSome essential elements of the Markov chain theory are reviewed, along with programming of economic models which incorporate Markovian matrices and whose objective function is the maximization of the present value of an infinite stream of income. The linear programming solution to these models is presented and compared to the dynamic programming solution. Several properties of the solution are analyzed and it is shown that the elements of the simplex tableau contain information relevant to the understanding of the programmed system. It is also shown that the model can be extended to cover, among other elements, multiprocess enterprises and the realistic cases of programming in the face of probable deterioration of the productive capacity of the system or its total destruction.
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