In addition to other methods we’ve discussed, a third type of variable spending model uses dynamic programming methods. These methods rely on complex computing power and mathematical equations to ...

We develop a novel and tractable approximate dynamic programming method that, coupled with Monte Carlo simulation, computes lower and upper bounds on the value of storage, which we use to benchmark ...

The method depends on estimating separable nonlinear approximations of value functions, using a dynamic programming framework. That paper considered only the case in which the time to complete an ...

Dynamic programming is a systematic method that balances present-day rewards against future penalties that are a direct result of today's actions.