An example to illustrate several aspects of optimization theory in Managerial Economics
An example to illustrate several aspects of optimization theory in Managerial Economics
Author(s): Somdeb LahiriSubject(s): Economy
Published by: Wydawnictwa AGH
Keywords: managerial economics; optimization; linear programming; decision making under risk; value of information;
Summary/Abstract: We provide a single example that illustrates all aspects of linear, integer and dynamic programming, including such concepts such as value of perfect and imperfect information. Such problems, though extremely plausible and realistic are hardly ever discussed in managerial economics.
Journal: Managerial Economics
- Issue Year: 22/2021
- Issue No: 1
- Page Range: 23-34
- Page Count: 12
- Language: English
