An example to illustrate several aspects of optimization theory in Managerial Economics

Somdeb Lahiri ()
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Somdeb Lahiri: PDEU, India

Managerial Economics, 2021, vol. 22, issue 1, 23-34

Abstract: We provide a single example that illustrates all aspects of linear, integer and dynamic programming, including such concepts such as value of perfect and imperfect information. Such problems, though extremely plausible and realistic are hardly ever discussed in managerial economics.

Keywords: managerial economics; optimization; linear programming; decision making under risk; value of information (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:agh:journl:v:22:y:2021:i:1:p:23-34

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