Open main menu
Home
Random
Recent changes
Special pages
Community portal
Preferences
About Wikipedia
Disclaimers
Incubator escapee wiki
Search
User menu
Talk
Dark mode
Contributions
Create account
Log in
Editing
Stochastic programming
(section)
Warning:
You are not logged in. Your IP address will be publicly visible if you make any edits. If you
log in
or
create an account
, your edits will be attributed to your username, along with other benefits.
Anti-spam check. Do
not
fill this in!
===Economic applications=== [[Stochastic dynamic programming]] is a useful tool in understanding decision making under uncertainty. The accumulation of capital stock under uncertainty is one example; often it is used by resource economists to analyze [[Nicholas Georgescu-Roegen#Man.27s economic struggle and the social evolution of mankind .28bioeconomics.29|bioeconomic problems]]<ref>Howitt, R., Msangi, S., Reynaud, A and K. Knapp. 2002. [http://www.agecon.ucdavis.edu/aredepart/facultydocs/Howitt/Polyapprox3a.pdf "Using Polynomial Approximations to Solve Stochastic Dynamic Programming Problems: or A "Betty Crocker " Approach to SDP."] University of California, Davis, Department of Agricultural and Resource Economics Working Paper.</ref> where the uncertainty enters in such as weather, etc.
Edit summary
(Briefly describe your changes)
By publishing changes, you agree to the
Terms of Use
, and you irrevocably agree to release your contribution under the
CC BY-SA 4.0 License
and the
GFDL
. You agree that a hyperlink or URL is sufficient attribution under the Creative Commons license.
Cancel
Editing help
(opens in new window)