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Oil Stockpiles and Import Reductions: A Dynamic Programming Approach

✍ Scribed by Hung-Po Chao and Alan S. Manne


Book ID
123687115
Publisher
INFORMS
Year
1983
Tongue
English
Weight
462 KB
Volume
31
Category
Article
ISSN
0030-364X

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## Abstract In this paper we develop a simulation‐based approach to stochastic dynamic programming. To solve the Bellman equation we construct Monte Carlo estimates of __Q__‐values. Our method is scalable to high dimensions and works in both continuous and discrete state and decision spaces while a