Economics, Econometrics and Finance
2 years ago

New method finds optimal control for decision-making processes with delay!

1 view
arXiv (Cornell University)
Viscosity solutions approach to finite-horizon continuous-time Markov decision process
Zhong-Wei Liao, Jinghai Shao

Paper Summary

The article explores how to make the best decisions in a certain type of problem involving time and randomness. By using a special method, the researchers found the best way to control these situations. They discovered a unique solution that helps us understand how to make optimal decisions in these complex scenarios.

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