Efficient algorithms of pathwise dynamic programming for decision optimization in mining operations

Complexity and uncertainty associated with commodity resource valuation and extraction requires stochastic control methods suitable for high dimensional states. Recent progress in duality and trajectory-wise techniques has introduced a variety of fresh ideas to this field with surprising results. Th...

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Bibliographic Details
Published in:	Annals of operations research Vol. 286; no. 1-2; pp. 583 - 615
Main Authors:	Hinz, Juri, Tarnopolskaya, Tanya, Yee, Jeremy
Format:	Journal Article
Language:	English
Published:	New York Springer US 01.03.2020 Springer Springer Nature B.V
Subjects:	Algorithms Business and Management Combinatorics Control methods Data mining Decision making Diagnostic systems Dynamic programming Mathematical research Mining industry Operations research Operations Research/Decision Theory Optimal control Optimization S.i.: Claio 2016 Stochastic processes Studies Theory of Computation Australia Optimal switching Approximate dynamic programming Markov decision process Duality Natural resource extraction Real option
ISSN:	0254-5330, 1572-9338
Online Access:	Get full text
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