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OPTIMAL STOCHASTIC CONTROL PRINCIPLE AND ITS’ APPLICATION IN FACTORY CONSUMPTION MODEL

Journal: International Journal of Mechanical Engineering and Technology(IJMET) (Vol.10, No. 2)

Publication Date:

Authors : ; ;

Page : 1341-1349

Keywords : Investment; Optimal; Stochastic; Venture; White Noise; Production.;

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Abstract

This paper deal with the optimal stochastic control principle and its' application in formulating consumption model of a production company a case study of Landmark University development ventures (LMDV). Here Stochastic Differential Equations (SDE) is considered as an ordinary differential equations (ODE) driven by white noise and we justified the connection between the Ito's integral and white noise in the case of non-random integrands interpreted as cost functions

Last modified: 2019-05-28 19:34:23