Abstract
The dynamic programming is a way of structuring certain problems so that a certain methodology can be used. This being the case, the properties that an optimization problem must possess need to be known in advance so that its initial mathematical formulation can be converted into an equivalent formulation which is amenable to dynamic programming methodology. Problems to which dynamic programming has been applied are usually stated in the following terms. A physical, operational, or conceptual system is considered to progress through a series of consecutive stages. At each stage, the system can be described or characterized by a relatively small set of parameters called the state variables or state vector. At each stage, and no matter what state the system is in, one or more decisions must be made. These decisions may depend on either stage or state, or both. The key elements that one associates with a dynamic programming problem are stages, states, decisions, transformations, and returns.
Published Version
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