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COMMENT ON “THE IRREDUCIBLE ROLE OF DERIVED MARGINAL UTILITY IN DYNAMIC STOCHASTIC PROGRAMMING”
Author(s) -
Chow Gregory C.
Publication year - 1996
Publication title -
pacific economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.34
H-Index - 33
eISSN - 1468-0106
pISSN - 1361-374X
DOI - 10.1111/j.1468-0106.1996.tb00188.x
Subject(s) - dynamic programming , stochastic programming , economics , mathematical optimization , marginal utility , lagrange multiplier , mathematical economics , computer science , mathematics , microeconomics
This comment shows why the Lagrange method can be simpler than dynamic programming in solving dynamic optimization problems.