Introduction

Denis Belomestny () and John Schoenmakers
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Denis Belomestny: Universität Duisburg-Essen
John Schoenmakers: The Weierstrass Institute

Chapter Chapter 1 in Advanced Simulation-Based Methods for Optimal Stopping and Control, 2018, pp 1-9 from Palgrave Macmillan

Abstract: Abstract Historically, problems of optimal stopping and control, often also called optimal decision problems, go back to the roots of operations research in the 1940s–1950s. Roughly speaking, solving a decision problem comes down to finding an “optimal” decision strategy or policy that optimizes some pre-specified reward functional.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-03351-2_1

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DOI: 10.1057/978-1-137-03351-2_1

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