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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

Type
Article accepté pour publication ou publié
Date
1982
Nom de la revue
Journal of Optimization Theory and Applications
Volume
37
Numéro
4
Éditeur
Springer
Pages
419-442
Identifiant publication
Métadonnées
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Auteur(s)
Bensoussan, Alain
Tapiero, C.S.
Résumé (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.
Mots-clés
Optimal stochastic control; impulsive control; management; dynamic programming