Technical Note ---Stochastic Sequential Decision-Making with a Random Number of Jobs

Alexander G. Nikolaev () and Sheldon H. Jacobson ()
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Alexander G. Nikolaev: Department of Industrial Engineering and Management Sciences, Northwestern University, Evanston, Illinois 60201
Sheldon H. Jacobson: Department of Computer Science, University of Illinois at Urbana--Champaign, Urbana, Illinois 61801

Operations Research, 2010, vol. 58, issue 4-part-1, 1023-1027

Abstract: This paper addresses a class of problems in which available resources need to be optimally allocated to a random number of jobs with stochastic parameters. Optimal policies are presented for variations of the sequential stochastic assignment problem and the dynamic stochastic knapsack problem, in which the number of arriving jobs is unknown until after the final arrival, and the job parameters are assumed to be independent but not identically distributed random variables.

Keywords: sequential assignment; dynamic stochastic knapsack; policy (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (7)

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