Impulsive control in management: Prospects and applications

A. Bensoussan, Charles Tapiero

Research output: Contribution to journalArticle

Abstract

An outline of impulsive control and its applications in management is reviewed. Conditions for optimal impulsive controls when the dynamic process is given by a stochastic differential equation with Wiener and jump processes are given. Applications to inventory control, capacity expansion, vehicle dispatching, maintenance-replacement-inspection, and pricing problems are formulated, and optimality conditions found. Although there are many other applications that can be outlined, these provide some motivation for further study in this emerging field.

Original languageEnglish (US)
Pages (from-to)419-442
Number of pages24
JournalJournal of Optimization Theory and Applications
Volume37
Issue number4
DOIs
StatePublished - Aug 1982

Fingerprint

Impulsive Control
Capacity Expansion
Plant expansion
Inventory control
Jump Process
Dispatching
Inventory Control
Wiener Process
Dynamic Process
Optimality Conditions
Pricing
Replacement
Stochastic Equations
Inspection
Optimal Control
Maintenance
Differential equations
Differential equation
Impulsive control
Costs

Keywords

  • dynamic programming
  • impulsive control
  • management
  • Optimal stochastic control

ASJC Scopus subject areas

  • Control and Optimization
  • Applied Mathematics
  • Management Science and Operations Research

Cite this

Impulsive control in management : Prospects and applications. / Bensoussan, A.; Tapiero, Charles.

In: Journal of Optimization Theory and Applications, Vol. 37, No. 4, 08.1982, p. 419-442.

Research output: Contribution to journalArticle

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