Under the real options approach to investment under uncertainty, agents formulate optimal policies under the assumption that firms’ growth prospects do not vary over time. This paper proposes and solves a model of investment decisions in which the growth rate and volatility of the decision variable shift between different states at random times. A value-maximizing investment policy is derived s...

Many of the recent Trajectory Optimization algorithms alternate between local approximation of the dynamics and conservative policy update. However, linearly approximating the dynamics in order to derive the new policy can bias the update and prevent convergence to the optimal policy. In this article, we propose a new model-free algorithm that backpropagates a local quadratic time-dependent Q-F...

  This paper aims to evaluate inventory cost of a Two-echelon serial supply chain system under vendor managed inventory program with stochastic demand, and examine the effect of environmental factors on the cost of overall system. For this purpose, we consider a two-echelon serial supply chain with a manufacturer and a retailer. Under Vendor managed inventory program, the decision on inventory ...

Fuzzy Q-learning is extending of Q-learning algorithm that uses fuzzy inference system to enable Qlearning holding continuous action and state. This learning has been implemented in various robot learning application like obstacle avoidance and target searching. However, most of them have not been realized in embedded robot. This paper presents implementation of fuzzy Q-learning for obstacle av...

Insurance is an extremely diversified from one clear-cut policy to another depending on a rising demand. Internet based businesses are booming industry and falls under categories of small, medium enterprise. It no exception that cybersecurity risks exponentially presents as continues fears in this business environment. To ensure insecurity handled effectively, cyber insurance policies introduce...