On a Class of Optimal Research Problems.
Abstract
Optimal policies are investigated for a class of one-dimensional search processes in which the objective is to find a point which is near, but not beyond, a boundary of uncertain location. Problems of this type are encountered in the analysis of mining operations. Upper and lower bounds for the optimal expected payoff are derived, and the optimal search policies are described explicitly for a large subclass of these problems. Results are obtained by formulating the search as a multistage decision process and using a dynamic programming approach. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Sep 28, 1971
- Accession Number
- AD0731678
Entities
People
- Warren W. Willman
Organizations
- United States Naval Research Laboratory