Abstract
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. © 1982 Plenum Publishing Corporation.
| Original language | English |
|---|---|
| Pages (from-to) | 419-442 |
| Journal | Journal of Optimization Theory and Applications |
| Volume | 37 |
| Issue number | 4 |
| DOIs | |
| Publication status | Published - Aug 1982 |
| Externally published | Yes |
Research Keywords
- dynamic programming
- impulsive control
- management
- Optimal stochastic control
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