Abstract
In this chapter we introduce control models with finite and i.i.d. disturbances. We prove the reward iteration and derive the basic solution techniques: value iteration and optimality criterion.
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References
Hinderer, K. (1970). Foundations of non-stationary dynamic programming with discrete time parameter (Lecture Notes in Operations Research and Mathematical Systems, Vol. 33). Berlin: Springer.
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Hinderer, K., Rieder, U., Stieglitz, M. (2016). Control Models with Disturbances. In: Dynamic Optimization. Universitext. Springer, Cham. https://doi.org/10.1007/978-3-319-48814-1_11
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DOI: https://doi.org/10.1007/978-3-319-48814-1_11
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Publisher Name: Springer, Cham
Print ISBN: 978-3-319-48813-4
Online ISBN: 978-3-319-48814-1
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