A Maximum Principle for Stochastic Networks.

Abstract

A maximum principle is obtained for stochastic networks that are defined by differing states of information. Using the Pontryagin maximum principle the authors define state and adjoint variables for each branch and find the relationships among them at tree nodes. An alternate approach is also made via dynamic programming which supplies intuitive interpretations for these relationships. Applications will include consumer style goods manufacturing. A simple application to a Christmas toy manufacturer's problem is given. (Author)

Document Details

Document Type
Technical Report
Publication Date
Jun 01, 1973
Accession Number
AD0771681

Entities

People

  • Gerald L. Thompson
  • Suresh P. Sethi

Organizations

  • Carnegie Mellon University

Tags

DTIC Thesaurus Topics

  • Applied Mathematics
  • Computer Programming
  • Computing-Related Activities
  • Consumers
  • Dynamic Programming
  • Interdisciplinary Science
  • Manufacturing
  • Mathematical Programming
  • Mathematics

Readers

  • Industrial Economics
  • Operations Research