search query: @indexterm Optimal control theory / total: 44
reference: 22 / 44
Author: | Johansen, S. |
Title: | Optimal prices of an M/G/1 jobshop |
Journal: | Operations Research
1994 : JUL-AUG, VOL. 42:4, p. 765-774 |
Index terms: | OPPORTUNITY COSTS TRANSFER PRICING DYNAMIC PROGRAMMING OPTIMAL CONTROL THEORY |
Language: | eng |
Abstract: | This paper concerns the optimal control of input to a FIFO jobshop with a single workstation. The input is jobs for which the processing and delivery times are observable upon arrival. The control is exercised by charging a price for each completed job. The objective is either profit maximization or welfare maximization. The semi-Markov decision processes that maximize the two objectives are studied simultaneously. Optimal prices are specified in terms of opportunity costs. |
SCIMA