Dynamic Programming

Thomas Neifer and Dennis Lawo
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Thomas Neifer: Bonn-Rhein-Sieg University of Applied Sciences
Dennis Lawo: University Bonn-Rhein-Sieg

A chapter in Operations Research and Management, 2024, pp 201-213 from Springer

Abstract: Abstract Dynamic Programming, or dynamic optimization, is an optimization approach that simplifies complex problems by breaking them into smaller, interconnected subproblems. This method eliminates redundancy and significantly improves efficiency. DP finds practical applications in various real-world problems within Operations Research, enhancing decision-making processes. Its usefulness is shown by two examples with a practical application in Python.

Date: 2024
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DOI: 10.1007/978-3-031-47206-0_11

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