Open Access. Powered by Scholars. Published by Universities.®

Dynamical Systems Commons

Open Access. Powered by Scholars. Published by Universities.®

2011

Finance programming models

Articles 1 - 1 of 1

Full-Text Articles in Dynamical Systems

Deterministic And Stochastic Bellman's Optimality Principles On Isolated Time Domains And Their Applications In Finance, Nezihe Turhan May 2011

Deterministic And Stochastic Bellman's Optimality Principles On Isolated Time Domains And Their Applications In Finance, Nezihe Turhan

Masters Theses & Specialist Projects

The concept of dynamic programming was originally used in late 1949, mostly during the 1950s, by Richard Bellman to describe decision making problems. By 1952, he refined this to the modern meaning, referring specifically to nesting smaller decision problems inside larger decisions. Also, the Bellman equation, one of the basic concepts in dynamic programming, is named after him. Dynamic programming has become an important argument which was used in various fields; such as, economics, finance, bioinformatics, aerospace, information theory, etc. Since Richard Bellman's invention of dynamic programming, economists and mathematicians have formulated and solved a huge variety of sequential decision …