Impulsive control in management: Prospects and applications
Bensoussan, Alain; Tapiero, C.S. (1982), Impulsive control in management: Prospects and applications, Journal of Optimization Theory and Applications, 37, 4, p. 419-442. http://dx.doi.org/10.1007/BF00934950
TypeArticle accepté pour publication ou publié
Journal nameJournal of Optimization Theory and Applications
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Abstract (EN)An outline of impulsive control and its applications in management is reviewed. Conditions for optimal impulsive controls when the dynamic process is given by a stochastic differential equation with Wiener and jump processes are given. Applications to inventory control, capacity expansion, vehicle dispatching, maintenance-replacement-inspection, and pricing problems are formulated, and optimality conditions found. Although there are many other applications that can be outlined, these provide some motivation for further study in this emerging field.
Subjects / KeywordsOptimal stochastic control; impulsive control; management; dynamic programming
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