House-selling problem with reward rate criteria and changing costs

Abstract

The house-selling problem with reward rate criteria and changing costs is considered under the condition that the seller can put a price on a house at the beginning of each step. Applying the methods of dynamic programming, we derive recursive equations for finding optimal strategies and the corresponding rewards. A numerical algorithm is proposed. The approach with changing costs turns out to be more efficient than the one with constant costs.

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Correspondence to V. V. Mazalov.

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Original Russian Text © V.V. Mazalov, I.A. Fal’ko, 2008, published in Izvestiya Akademii Nauk. Teoriya i Sistemy Upravleniya, 2008, No. 2, pp. 79–88.

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Mazalov, V.V., Fal’ko, I.A. House-selling problem with reward rate criteria and changing costs. J. Comput. Syst. Sci. Int. 47, 235 (2008). https://doi.org/10.1134/S106423070802010X

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Keywords

  • Optimal Strategy
  • Recursive Relation
  • System Science International
  • Recursive Equation
  • Stochastic Dynamic Programming