Stochastic evolution and control of an economic activity

DOI10.1016/0022-0531(77)90070-9zbMath0364.90042OpenAlexW1995168219MaRDI QIDQ1241171

Shirish D. Chikte, Sudhakar D. Deshmukh

Publication date: 1977

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: http://www.kellogg.northwestern.edu/research/math/papers/197.pdf

Mathematics Subject Classification ID

Optimal stochastic control (93E20) Stopping times; optimal stopping problems; gambling theory (60G40) Mathematical economics (91B99) Markov processes (60Jxx)

Cites Work

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• On the allocation of effort
• Job search in a dynamic economy
• Finite state Markovian decision processes
• Discounted Dynamic Programming
• Negative Dynamic Programming
• Optimal resource allocation in chemical research
• Expenditure patterns for risky R and D projects
• Optimal Management of a Research and Development Project

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