We present an improved implementation of the Wagner-Whitin algorithm for economic lot-sizing problems based on the planning-horizon theorem and the Economic- Part-Period concept. The proposed method of this paper reduces the burden of the computations significantly in two different cases. We first assume there is no backlogging and inventory holding and set-up costs are fixed. The second model ...

Model predictive control (MPC) is a popular control method that has proved effective for robotics, among other fields. MPC performs re-planning at every time step. Replanning is done with a limited horizon per computational and real-time constraints and often also for robustness to potential model errors. However, the limited horizon leads to suboptimal performance. In this work, we consider th...

In This paper we investigate the design of controllers, for discrete-time Markovian jump linear systems, that achieve optimal reference tracking in the presence of preview. In particular, given a reference sequence, we obtain the optimal control law for the fully observed case, while the output feedback case is also briefly discussed. We provide the optimal control law for the infinite and fini...

Decision support systems are generally geared to short-term tactical decision makkrg. As an alternative, this paper develops a mathematical progrming model to evaluate long-term strategic alternatives in the context of farm-level agricultural production where a broiler farm considers long-term implications of diversification into commercial aquiculture. The model considers a ten-year strategic ...

We describe a simple way of obtaining horizon entropy using the approach based on the Virasoro algebra and central charge. We show that the Virasoro algebra defined by the Noether currents corresponding to the surface term of gravitational action, for the diffeomorphisms which leave the horizon structure unaltered, has a central extension that directly leads to the horizon entropy. In this appr...

We study thermodynamic properties and phase structures of topological black holes in Einstein theory with a Gauss-Bonnet term and a negative cosmological constant. The event horizon of these topological black holes can be a hypersurface with positive, zero or negative constant curvature. When the horizon is a zero curvature hypersurface, the thermodynamic properties of black holes are completel...

The Bekenstein-Hawking entropy of black holes in Einstein’s theory of gravity is equal to a quarter of the horizon area in units of Newton’s constant. Wald has proposed that in general theories of gravity the entropy of stationary black holes with bifurcate Killing horizons is a Noether charge which is in general different from the Bekenstein-Hawking entropy. We show that the Noether charge ent...

Reinforcement learning aims to determine an (infinite time horizon) optimal control policy from interaction with a system. It can be solved by approximating the so-called Q-function from a sample of four-tuples (xt, ut, rt, xt+1) where xt denotes the system state at time t, ut the control action taken, rt the instantaneous reward obtained and xt+1 the successor state of the system, and by deter...

We consider an economy à la Lucas (1978, Econometrica 46, 1429–1446) with a risk-averse representative agent. The exogenous growth rate of the economy follows a random walk. We characterize the set of utility functions for which it is efficient to discount more distant cash flows at a lower rate. The benchmark result is that, when the growth rate is almost surely nonnegative, the yield curve is...