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Average Cost Control Of Stochastic Manufacturing Systems
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Book Synopsis Average-Cost Control of Stochastic Manufacturing Systems by : Suresh P. Sethi
Download or read book Average-Cost Control of Stochastic Manufacturing Systems written by Suresh P. Sethi and published by Springer Science & Business Media. This book was released on 2006-03-22 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book articulates a new theory that shows that hierarchical decision making can in fact lead to a near optimization of system goals. The material in the book cuts across disciplines. It will appeal to graduate students and researchers in applied mathematics, operations management, operations research, and system and control theory.
Book Synopsis Average-cost Control of Stochastic Manufacturing Systems by : Suresh P. Sethi
Download or read book Average-cost Control of Stochastic Manufacturing Systems written by Suresh P. Sethi and published by . This book was released on 2005 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most manufacturing systems are large, complex, and operate in an environment of uncertainty. It is common practice to manage such systems in a hierarchical fashion. This book articulates a new theory that shows that hierarchical decision making can in fact lead to a near optimization of system goals. The material in the book cuts across disciplines. It will appeal to graduate students and researchers in applied mathematics, operations management, operations research, and system and control theory.
Book Synopsis Optimal Control Theory by : Suresh P. Sethi
Download or read book Optimal Control Theory written by Suresh P. Sethi and published by Springer Nature. This book was released on 2022-01-03 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new 4th edition offers an introduction to optimal control theory and its diverse applications in management science and economics. It introduces students to the concept of the maximum principle in continuous (as well as discrete) time by combining dynamic programming and Kuhn-Tucker theory. While some mathematical background is needed, the emphasis of the book is not on mathematical rigor, but on modeling realistic situations encountered in business and economics. It applies optimal control theory to the functional areas of management including finance, production and marketing, as well as the economics of growth and of natural resources. In addition, it features material on stochastic Nash and Stackelberg differential games and an adverse selection model in the principal-agent framework. Exercises are included in each chapter, while the answers to selected exercises help deepen readers’ understanding of the material covered. Also included are appendices of supplementary material on the solution of differential equations, the calculus of variations and its ties to the maximum principle, and special topics including the Kalman filter, certainty equivalence, singular control, a global saddle point theorem, Sethi-Skiba points, and distributed parameter systems. Optimal control methods are used to determine optimal ways to control a dynamic system. The theoretical work in this field serves as the foundation for the book, in which the author applies it to business management problems developed from his own research and classroom instruction. The new edition has been refined and updated, making it a valuable resource for graduate courses on applied optimal control theory, but also for financial and industrial engineers, economists, and operational researchers interested in applying dynamic optimization in their fields.
Book Synopsis Stochastic Theory and Control by : Bozenna Pasik-Duncan
Download or read book Stochastic Theory and Control written by Bozenna Pasik-Duncan and published by Springer. This book was released on 2003-07-01 with total page 566 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume contains almost all of the papers that were presented at the Workshop on Stochastic Theory and Control that was held at the Univ- sity of Kansas, 18–20 October 2001. This three-day event gathered a group of leading scholars in the ?eld of stochastic theory and control to discuss leading-edge topics of stochastic control, which include risk sensitive control, adaptive control, mathematics of ?nance, estimation, identi?cation, optimal control, nonlinear ?ltering, stochastic di?erential equations, stochastic p- tial di?erential equations, and stochastic theory and its applications. The workshop provided an opportunity for many stochastic control researchers to network and discuss cutting-edge technologies and applications, teaching and future directions of stochastic control. Furthermore, the workshop focused on promoting control theory, in particular stochastic control, and it promoted collaborative initiatives in stochastic theory and control and stochastic c- trol education. The lecture on “Adaptation of Real-Time Seizure Detection Algorithm” was videotaped by the PBS. Participants of the workshop have been involved in contributing to the documentary being ?lmed by PBS which highlights the extraordinary work on “Math, Medicine and the Mind: Discovering Tre- ments for Epilepsy” that examines the e?orts of the multidisciplinary team on which several of the participants of the workshop have been working for many years to solve one of the world’s most dramatic neurological conditions. Invited high school teachers of Math and Science were among the part- ipants of this professional meeting.
Book Synopsis Stochastic Processes, Optimization, and Control Theory: Applications in Financial Engineering, Queueing Networks, and Manufacturing Systems by : Houmin Yan
Download or read book Stochastic Processes, Optimization, and Control Theory: Applications in Financial Engineering, Queueing Networks, and Manufacturing Systems written by Houmin Yan and published by Springer Science & Business Media. This book was released on 2006-09-10 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume contains 16 research articles. It presents recent and pressing issues in stochastic processes, control theory, differential games, optimization, and their applications in finance, manufacturing, queueing networks, and climate control. One of the salient features is that the book is highly multi-disciplinary. The book is dedicated to Professor Suresh Sethi on the occasion of his 60th birthday, in view of his distinguished career.
Author :William M. McEneaney Publisher :Springer Science & Business Media ISBN 13 :9780817640781 Total Pages :892 pages Book Rating :4.6/5 (47 download)
Book Synopsis Stochastic Analysis, Control, Optimization and Applications by : William M. McEneaney
Download or read book Stochastic Analysis, Control, Optimization and Applications written by William M. McEneaney and published by Springer Science & Business Media. This book was released on 1999 with total page 892 pages. Available in PDF, EPUB and Kindle. Book excerpt: In view of Professor Wendell Fleming's many fundamental contributions, his profound influence on the mathematical and systems theory communi ties, his service to the profession, and his dedication to mathematics, we have invited a number of leading experts in the fields of control, optimiza tion, and stochastic systems to contribute to this volume in his honor on the occasion of his 70th birthday. These papers focus on various aspects of stochastic analysis, control theory and optimization, and applications. They include authoritative expositions and surveys as well as research papers on recent and important issues. The papers are grouped according to the following four major themes: (1) large deviations, risk sensitive and Hoc control, (2) partial differential equations and viscosity solutions, (3) stochastic control, filtering and parameter esti mation, and (4) mathematical finance and other applications. We express our deep gratitude to all of the authors for their invaluable contributions, and to the referees for their careful and timely reviews. We thank Harold Kushner for having graciously agreed to undertake the task of writing the foreword. Particular thanks go to H. Thomas Banks for his help, advice and suggestions during the entire preparation process, as well as for the generous support of the Center for Research in Scientific Computation. The assistance from the Birkhauser professional staff is also greatly appreciated.
Book Synopsis Mathematics of Stochastic Manufacturing Systems by : George Yin
Download or read book Mathematics of Stochastic Manufacturing Systems written by George Yin and published by American Mathematical Soc.. This book was released on 1997-01-01 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, leading experts in mathematical manufacturing research and related fields review and update recent advances of mathematics in stochastic manufacturing systems and attempt to bridge the gap between theory and applications. The topics covered include scheduling and production planning, modeling of manufacturing systems, hierarchical control for large and complex systems, Markov chains, queueing networks, numerical methods for system approximations, singular perturbed systems, risk-sensitive control, stochastic optimization methods, discrete event systems, and statistical quality control.
Book Synopsis Hierarchical Decision Making in Stochastic Manufacturing Systems by : Suresh P. Sethi
Download or read book Hierarchical Decision Making in Stochastic Manufacturing Systems written by Suresh P. Sethi and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most important methods in dealing with the optimization of large, complex systems is that of hierarchical decomposition. The idea is to reduce the overall complex problem into manageable approximate problems or subproblems, to solve these problems, and to construct a solution of the original problem from the solutions of these simpler prob lems. Development of such approaches for large complex systems has been identified as a particularly fruitful area by the Committee on the Next Decade in Operations Research (1988) [42] as well as by the Panel on Future Directions in Control Theory (1988) [65]. Most manufacturing firms are complex systems characterized by sev eral decision subsystems, such as finance, personnel, marketing, and op erations. They may have several plants and warehouses and a wide variety of machines and equipment devoted to producing a large number of different products. Moreover, they are subject to deterministic as well as stochastic discrete events, such as purchasing new equipment, hiring and layoff of personnel, and machine setups, failures, and repairs.
Book Synopsis Discrete-Time Markov Chains by : George Yin
Download or read book Discrete-Time Markov Chains written by George Yin and published by Springer Science & Business Media. This book was released on 2005 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focusing on discrete-time-scale Markov chains, the contents of this book are an outgrowth of some of the authors' recent research. The motivation stems from existing and emerging applications in optimization and control of complex hybrid Markovian systems in manufacturing, wireless communication, and financial engineering. Much effort in this book is devoted to designing system models arising from these applications, analyzing them via analytic and probabilistic techniques, and developing feasible computational algorithms so as to reduce the inherent complexity. This book presents results including asymptotic expansions of probability vectors, structural properties of occupation measures, exponential bounds, aggregation and decomposition and associated limit processes, and interface of discrete-time and continuous-time systems. One of the salient features is that it contains a diverse range of applications on filtering, estimation, control, optimization, and Markov decision processes, and financial engineering. This book will be an important reference for researchers in the areas of applied probability, control theory, operations research, as well as for practitioners who use optimization techniques. Part of the book can also be used in a graduate course of applied probability, stochastic processes, and applications.
Book Synopsis Stochastic Modeling of Manufacturing Systems by : George Liberopoulos
Download or read book Stochastic Modeling of Manufacturing Systems written by George Liberopoulos and published by Springer Science & Business Media. This book was released on 2005-12-12 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: Manufacturing systems rarely perform exactly as expected and predicted. Unexpected events, such as order changes, equipment failures and product defects, affect the performance of the system and complicate decision-making. This volume is devoted to the development of analytical methods aiming at responding to variability in a way that limits its corrupting effects on system performance. The book includes fifteen novel chapters that mostly focus on the development and analysis of performance evaluation models of manufacturing systems using decomposition-based methods, Markovian and queuing analysis, simulation, and inventory control approaches. They are organized into four distinct sections to reflect their shared viewpoints: factory design, unreliable production lines, queuing network models, production planning and assembly.
Book Synopsis Stochastic Processes: Modeling and Simulation by : D N Shanbhag
Download or read book Stochastic Processes: Modeling and Simulation written by D N Shanbhag and published by Gulf Professional Publishing. This book was released on 2003-02-24 with total page 1028 pages. Available in PDF, EPUB and Kindle. Book excerpt: This sequel to volume 19 of Handbook on Statistics on Stochastic Processes: Modelling and Simulation is concerned mainly with the theme of reviewing and, in some cases, unifying with new ideas the different lines of research and developments in stochastic processes of applied flavour. This volume consists of 23 chapters addressing various topics in stochastic processes. These include, among others, those on manufacturing systems, random graphs, reliability, epidemic modelling, self-similar processes, empirical processes, time series models, extreme value therapy, applications of Markov chains, modelling with Monte Carlo techniques, and stochastic processes in subjects such as engineering, telecommunications, biology, astronomy and chemistry. particular with modelling, simulation techniques and numerical methods concerned with stochastic processes. The scope of the project involving this volume as well as volume 19 is already clarified in the preface of volume 19. The present volume completes the aim of the project and should serve as an aid to students, teachers, researchers and practitioners interested in applied stochastic processes.
Book Synopsis Stochastic Portfolio Theory by : E. Robert Fernholz
Download or read book Stochastic Portfolio Theory written by E. Robert Fernholz and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stochastic portfolio theory is a mathematical methodology for constructing stock portfolios and for analyzing the effects induced on the behavior of these portfolios by changes in the distribution of capital in the market. Stochastic portfolio theory has both theoretical and practical applications: as a theoretical tool it can be used to construct examples of theoretical portfolios with specified characteristics and to determine the distributional component of portfolio return. This book is an introduction to stochastic portfolio theory for investment professionals and for students of mathematical finance. Each chapter includes a number of problems of varying levels of difficulty and a brief summary of the principal results of the chapter, without proofs.
Book Synopsis Handbook of Stochastic Analysis and Applications by : D. Kannan
Download or read book Handbook of Stochastic Analysis and Applications written by D. Kannan and published by CRC Press. This book was released on 2001-10-23 with total page 808 pages. Available in PDF, EPUB and Kindle. Book excerpt: An introduction to general theories of stochastic processes and modern martingale theory. The volume focuses on consistency, stability and contractivity under geometric invariance in numerical analysis, and discusses problems related to implementation, simulation, variable step size algorithms, and random number generation.
Book Synopsis Stochastic Integration and Differential Equations by : Philip Protter
Download or read book Stochastic Integration and Differential Equations written by Philip Protter and published by Springer. This book was released on 2013-12-21 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: It has been 15 years since the first edition of Stochastic Integration and Differential Equations, A New Approach appeared, and in those years many other texts on the same subject have been published, often with connections to applications, especially mathematical finance. Yet in spite of the apparent simplicity of approach, none of these books has used the functional analytic method of presenting semimartingales and stochastic integration. Thus a 2nd edition seems worthwhile and timely, though it is no longer appropriate to call it "a new approach". The new edition has several significant changes, most prominently the addition of exercises for solution. These are intended to supplement the text, but lemmas needed in a proof are never relegated to the exercises. Many of the exercises have been tested by graduate students at Purdue and Cornell Universities. Chapter 3 has been completely redone, with a new, more intuitive and simultaneously elementary proof of the fundamental Doob-Meyer decomposition theorem, the more general version of the Girsanov theorem due to Lenglart, the Kazamaki-Novikov criteria for exponential local martingales to be martingales, and a modern treatment of compensators. Chapter 4 treats sigma martingales (important in finance theory) and gives a more comprehensive treatment of martingale representation, including both the Jacod-Yor theory and Emery’s examples of martingales that actually have martingale representation (thus going beyond the standard cases of Brownian motion and the compensated Poisson process). New topics added include an introduction to the theory of the expansion of filtrations, a treatment of the Fefferman martingale inequality, and that the dual space of the martingale space H^1 can be identified with BMO martingales. Solutions to selected exercises are available at the web site of the author, with current URL http://www.orie.cornell.edu/~protter/books.html.
Book Synopsis Large Deviations Techniques and Applications by : Amir Dembo
Download or read book Large Deviations Techniques and Applications written by Amir Dembo and published by Springer Science & Business Media. This book was released on 2009-11-03 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: Large deviation estimates have proved to be the crucial tool required to handle many questions in statistics, engineering, statistial mechanics, and applied probability. Amir Dembo and Ofer Zeitouni, two of the leading researchers in the field, provide an introduction to the theory of large deviations and applications at a level suitable for graduate students. The mathematics is rigorous and the applications come from a wide range of areas, including electrical engineering and DNA sequences. The second edition, printed in 1998, included new material on concentration inequalities and the metric and weak convergence approaches to large deviations. General statements and applications were sharpened, new exercises added, and the bibliography updated. The present soft cover edition is a corrected printing of the 1998 edition.
Book Synopsis Cycle Representations of Markov Processes by : Sophia L. Kalpazidou
Download or read book Cycle Representations of Markov Processes written by Sophia L. Kalpazidou and published by Springer Science & Business Media. This book was released on 2007-03-06 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a prototype providing new insight into Markovian dependence via the cycle decompositions. It presents a systematic account of a class of stochastic processes known as cycle (or circuit) processes - so-called because they may be defined by directed cycles. These processes have special and important properties through the interaction between the geometric properties of the trajectories and the algebraic characterization of the Markov process. An important application of this approach is the insight it provides to electrical networks and the duality principle of networks. In particular, it provides an entirely new approach to infinite electrical networks and their applications in topics as diverse as random walks, the classification of Riemann surfaces, and to operator theory. The second edition of this book adds new advances to many directions, which reveal wide-ranging interpretations of the cycle representations like homologic decompositions, orthogonality equations, Fourier series, semigroup equations, and disintegration of measures. The versatility of these interpretations is consequently motivated by the existence of algebraic-topological principles in the fundamentals of the cycle representations. This book contains chapter summaries as well as a number of detailed illustrations. Review of the earlier edition: "This is a very useful monograph which avoids ready ways and opens new research perspectives. It will certainly stimulate further work, especially on the interplay of algebraic and geometrical aspects of Markovian dependence and its generalizations." Math Reviews
Book Synopsis Handbook of Maintenance Management and Engineering by : Mohamed Ben-Daya
Download or read book Handbook of Maintenance Management and Engineering written by Mohamed Ben-Daya and published by Springer Science & Business Media. This book was released on 2009-07-30 with total page 745 pages. Available in PDF, EPUB and Kindle. Book excerpt: To be able to compete successfully both at national and international levels, production systems and equipment must perform at levels not even thinkable a decade ago. Requirements for increased product quality, reduced throughput time and enhanced operating effectiveness within a rapidly changing customer demand environment continue to demand a high maintenance performance. In some cases, maintenance is required to increase operational effectiveness and revenues and customer satisfaction while reducing capital, operating and support costs. This may be the largest challenge facing production enterprises these days. For this, maintenance strategy is required to be aligned with the production logistics and also to keep updated with the current best practices. Maintenance has become a multidisciplinary activity and one may come across situations in which maintenance is the responsibility of people whose training is not engineering. This handbook aims to assist at different levels of understanding whether the manager is an engineer, a production manager, an experienced maintenance practitioner or a beginner. Topics selected to be included in this handbook cover a wide range of issues in the area of maintenance management and engineering to cater for all those interested in maintenance whether practitioners or researchers. This handbook is divided into 6 parts and contains 26 chapters covering a wide range of topics related to maintenance management and engineering.
