2 articles for “hamilton-jacobi-bellman equation”

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Research ArticleOpen accessIn the keywordsDividend Maximization in the Cramer-Lundberg Model using Homotopy Analysis MethodJuma Kasozi, Fred Mayambala, Charles Wilson MaheraProblem statement: We used the Homotopy Analysis Method (HAM) to numerically compute the value function of the dividend payment in the basic insurance process. Approach: The process is a constant income stream from premiums which is subtracted a claim process of the Poisson type. Further, an allowance for payment of dividends to share holders was incorporated. Results: The case when … …Journal of Mathematics and Statistics, Vol. 7, Issue 1 · 31 Jan 2011 · 7,018 accessesView PDF Cite

Research ArticleOpen accessIn the abstractAn Optimal Control Approach to Inventory-Production Systems with Weibull Distributed DeteriorationMd. Azizul Baten, Anton Abdulbasah KamilProblem statement: We studied the inventory-production system with two-parameter Weibull distributed deterioration items. Approach: The inventory model was developed as linear optimal control problem and by the Pontryagin maximum principle, the optimal control problem was solved analytically to obtain the optimal solution of the problem. Results: It was then illustrated with the help of an example. By the principle of … …Journal of Mathematics and Statistics, Vol. 5, Issue 3 · 30 Sep 2009 · 7,549 accessesView PDF Cite