Accession Number:

ADA001103

Title:

A Stochastic Sequential Allocation Model.

Descriptive Note:

Research rept.,

Corporate Author:

CALIFORNIA UNIV BERKELEY OPERATIONS RESEARCH CENTER

Personal Author(s):

Report Date:

1974-10-01

Pagination or Media Count:

28.0

Abstract:

The following model is considered, and is described in terms of an investment problem. There are D units available for investment. During each of N time periods, an opportunity to invest will occur with probability p. As soon as an opportunity presents itself, a decision must be made on how much of the available resources to invest. If y is invested, then an expected profit Py, is obtained where P is a nondecreasing continuous function. The amount y then becomes unavailable for future investment. The problem is to decide how much to invest at each opportunity so as to maximize total expected profit.

Subject Categories:

  • Economics and Cost Analysis
  • Operations Research

Distribution Statement:

APPROVED FOR PUBLIC RELEASE