Journal ArticleDOI
Dynamic Programming and Stochastic Control
Dimitri P. Bertsekas,Chelsea C. White +1 more
- Vol. 7, Iss: 10, pp 758-759
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This article is published in Systems, Man and Cybernetics.The article was published on 1977-10-01. It has received 1016 citations till now. The article focuses on the topics: Stochastic programming & Stochastic modelling.read more
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Graphical Models, Exponential Families, and Variational Inference
TL;DR: The variational approach provides a complementary alternative to Markov chain Monte Carlo as a general source of approximation methods for inference in large-scale statistical models.
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Indivisible labor and the business cycle
TL;DR: In this paper, a growth model with shocks to technology is studied, and it is shown that, unlike previous equilibrium models of the business cycle, this economy displays large fluctuations in hours worked and relatively small fluctuations in productivity.
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Investment, Capacity Utilization and the Real Business Cycle
Jeremy Greenwood,Zvi Hercowitz +1 more
TL;DR: In this article, the authors adopt the Keynesian view that direct shocks to investment are important for business fluctuations, but incorporate them in a neo-classical framework where the rate of capital expenditure is fixed.
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Optimal Replacement of GMC Bus Engines: An Empirical Model of Harold Zurcher
TL;DR: In this paper, a simple, regenerative, optimal stopping model of bus-engine replacement is proposed to describe the behavior of Harold Zurcher, superintendent of maintenance at the Madison (Wisconsin) Metropolitan Bus Company.
Journal ArticleDOI
The Complexity of Markov Decision Processes
TL;DR: All three variants of the classical problem of optimal policy computation in Markov decision processes, finite horizon, infinite horizon discounted, and infinite horizon average cost are shown to be complete for P, and therefore most likely cannot be solved by highly parallel algorithms.