We model budget-constrained keyword bidding in sponsored search auctions as a stochastic multiple-choice knapsack problem (S-MCKP) and design an algorithm to solve S-MCKP and the ...
One of the most important policies adopted in inventory control is the (R,S) policy (also known as the “replenishment cycle” policy). Under the non-stationary demand assumption...
Abstract. An interesting class of production/inventory control problems considers a single product and a single stocking location, given a stochastic demand with a known non-statio...
Discrete-time optimal control problems arise naturally in many economic problems. Despite the rapid growth in computing power and new developments in the literature, many economic...
Markov Decision Processes are a powerful framework for planning under uncertainty, but current algorithms have difficulties scaling to large problems. We present a novel probabil...