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- W2013239059 abstract "Two major areas of research in dynamic programming are optimality criteria for infinite-horizon models with divergent total costs and forward algorithm planning-horizon procedures. A fundamental observation for both problems is that the relative cost of two possible initial actions for a given initial state may be quite insensitive to structural information in all but the first few periods of a multiperiod model. Recently Lundin and Morton have developed a unified machinery for the dynamic lot size model that provides a general optimality criterion for the infinite horizon problem and complete planning-horizon procedures. Here those ideas are extended to provide a formal infinite-horizon/planning-horizon framework for a reasonably general form of the dynamic programming problem. Several examples and illustrations are provided. The approach provides a good vehicle for investigating the non-stationary stochastic inventory problem; this work will appear elsewhere." @default.
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- W2013239059 date "1979-08-01" @default.
- W2013239059 modified "2023-09-26" @default.
- W2013239059 title "Infinite-Horizon Dynamic Programming Models—A Planning-Horizon Formulation" @default.
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- W2013239059 doi "https://doi.org/10.1287/opre.27.4.730" @default.
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