Dynamic programming – a Profit Optimization Method

Delia Teselios () and Mihaela Albici ()
Additional contact information
Delia Teselios: Constantin Brancoveanu University
Mihaela Albici: Constantin Brancoveanu University

International Journal of Academic Research in Accounting, Finance and Management Sciences, 2013, vol. 3, issue 1, 359-364

Abstract: Dynamic programming techniques are often used in economy due to the recursive structure that many dynamic economic optimization problems have. These problems, usually having a complex form, are disintegrated into smaller sub-problems whose optimal solutions lead to the optimal solution of the original problem. In the economic study of this paper we use the backward method in which the final state of the system and the chosen policy determine the initial state of the system.

Keywords: Dynamic programming; optimal policy; transfer function; efficiency function; backward method (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.hrmars.com/admin/pics/1612.pdf (application/pdf)
http://www.hrmars.com/admin/pics/1612.pdf (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hur:ijaraf:v:3:y:2013:i:1:p:359-364

Access Statistics for this article

More articles in International Journal of Academic Research in Accounting, Finance and Management Sciences from Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences
Bibliographic data for series maintained by Hassan Danial Aslam ().