INTRODUCTION
Dynamic programming is both an approach to problem solving and a decomposition technique that can be effectively applied to mathematically describable problems having a sequence of interrelated decisions. Such decision making problems are pervasive. Determining a route from an origin (e.g., your house) to a destination (e.g., your school or place of employment) on a network of roads requires a sequence of turns. Managing a retail store (e.g., that sells, say, televisions) requires a sequence of wholesale purchasing decisions.
Such problems also share common characteristics. Each is invariably associated with a criterion. We may wish to choose the shortest or most scenic route from home to our place of employment; the retail store manager purchases televisions with the intent of selling them to maximize expected profit. Each is such that a currently determined decision has impact on the future decision making environment. In going from home to work, the turn currently...
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References
Bellman, R.E. (1957). Dynamic Programming. Princeton University Press, Princeton, New Jersey.
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Ross, S.M. (1983). Introduction to Stochastic Dynamic Programming. Academic Press, New York.
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© 2001 Kluwer Academic Publishers
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White, C.C. (2001). Dynamic programming . In: Gass, S.I., Harris, C.M. (eds) Encyclopedia of Operations Research and Management Science. Springer, New York, NY. https://doi.org/10.1007/1-4020-0611-X_264
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DOI: https://doi.org/10.1007/1-4020-0611-X_264
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