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 ...

This note deals with the manner in which dynamic problems, involving probabilistic constraints, may be tackled using the ideas of Lagrange multipliers and efficient solutions. Both the infinite and ...

Management Science, Vol. 31, No. 4 (Apr., 1985), pp. 422-434 (13 pages) A model for measuring the economic benefits of irrigation system development over a depleting aquifer is presented, along with ...