Turnpikes in flow control models of unreliable manufacturing systems

Christian van Delft () and A. Haurie
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Christian van Delft: GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique

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Abstract: This paper establishes a link between the concept of hedging point, introduced in a class of models of unreliable manufacturing flow control, and the concept of turnpike, introduced initially in economic growth models and recently extended to a general class of piecewise deterministic control systems. We establish a turnpike property for a control system where the cost does not depend directly on the control. We show that this turnpike corresponds exactly to the hedging points introduced in the manufacturing flow control literature.

Keywords: Stochastic control; Piecewise deterministic control systems; Infinite horizon optimal control; Hedging points; Singular arcs; Turnpike properties (search for similar items in EconPapers)
Date: 1995-04-21
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Published in European Journal of Operational Research, 1995, Vol.82,n°2, pp.359-372. ⟨10.1016/0377-2217(94)00269-I⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00471375

DOI: 10.1016/0377-2217(94)00269-I

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