In addition to other methods we’ve discussed, a third type of variable spending model uses dynamic programming methods. These methods rely on complex computing power and mathematical equations to ...

Dynamic programming is the foundation of dynamic economic analysis and often requires numerical solution methods. Standard methods are either slow or unstable. These instabilities are avoided when one ...

Mathematical Background: We expect that the student is comfortable with basic mathematics at the level of a U.S. first-year college STEM student. This includes basic notions such as sets and functions ...

This paper considers a minimum-cost network flow problem in a bipartite graph with a single sink. The transportation costs exhibit a staircase cost structure because such types of transportation cost ...

A well-established mathematical algorithm known as dynamic programming, combined with advances in personal computing power, now allows straightforward optimization of fixed-bed catalyst life strategy.