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Building mathematical models in dynamic programming

Author

Listed:
  • Liana PATER

    (Tibiscus University in Timisoara)

Abstract

In short, we can say that dynamic programming is a method of optimization of systems, using their mathematical representation in phases or sequences or as we say, periods. Such systems are common in economic studies at the implementation of programs on the most advanced techniques, such as for example that involving cosmic navigation. Another concept that is involved in the study of dynamic programs is the economic horizon (number of periods or phases that a dynamic program needs). This concept often leads to the examination of the convergence of certain variables on infinite horizon. In many cases from the real economy by introducing updating, dynamic programs can be made convergent.

Suggested Citation

  • Liana PATER, 2012. "Building mathematical models in dynamic programming," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economics, Tibiscus University in Timisoara, vol. 0, pages 823-828, May.
    • Handle: RePEc:tdt:annals:v:xviii:y:2012:p:823-828
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    File URL: http://fse.tibiscus.ro/anale/Lucrari2012/kssue2012_135.pdf
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    More about this item

    Keywords

    dynamic; programming; optimal; decision; stage;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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