Abstract
An outline of impulsive control and its applications in management is reviewed. Conditions for optimal impulsive controls when the dynamic process is given by a stochastic differential equation with Wiener and jump processes are given. Applications to inventory control, capacity expansion, vehicle dispatching, maintenance-replacement-inspection, and pricing problems are formulated, and optimality conditions found. Although there are many other applications that can be outlined, these provide some motivation for further study in this emerging field.
This is a preview of subscription content, log in via an institution to check access.
Similar content being viewed by others
References
Bensoussan, A., andLions, J. L.,Nouvelles Methodes de Controle Impulsionnel, Applied Mathematics and Optimization, Vol. 1, pp. 289–312, 1974.
Bensoussan, A., andLions, J. L.,Controle Impulsionnel et Applications, Dunod, Paris, France, 1980.
Bensoussan, A., andHurst, G. B.,Management Applications of Modern Control Theory, North-Holland/American Elsevier, New York, New York, 1974.
Bensoussan, A., Kleindorfer, P. R., andTapiero, C. S.,Applied Optimum Control, North-Holland Publishing Company, Amsterdam, Holland, 1978.
Bensoussan, A., Kleindorfer, P. R., andTapiero, C. S.,Stochastic Control in Econometrics and Management Science, Contributions to Economic Analysis, North-Holland Publishing Company, Amsterdam, Holland, 1980.
Colleter, P., Delbecque, F., Falgaron, F., andQuadrat, J. P.,Applications du Controle Stochastique: la Gestion de Moyens de Productions d'Energie en Nouvelle Caledonnie, Applied Stochastic Control in Econometrics and Management Science, Edited by A. Bensoussan, P. R. Kleindorfer, and C. S. Tapiero, North-Holland Publishing Company, Amsterdam, Holland, 1980.
Robin, M.,Optimal Maintenance and Inspection for Markov and Deterioration Models, IRIA Paper, Domaine de Voluceau, France, 1978.
Robin, M., andTapiero, C. S.,Vehicle Dispatching with Nonstationary Stochastic Arrival Rates, Transportation Research, Forthcoming 1982.
Tapiero, C. S.,Optimum Price Switching, International Journal of Systems Science, Vol. 5, pp. 83–93, 1973.
Tapiero, C. S.,Managerial Planning: An Optimum and Stochastic Control Approach, Gordon and Breach Science Publishers, New York, New York, 1977.
Tapiero, C. S.,Optimal Capacity Expansion with a Storable Output, Cahiers du Centre d'Etude de Recherche Operationnelle, pp. 159–160, 1972.
Tapiero, C. S., andVenezia, I.,A Mean Variance Approach to the Optimal Machine Maintenance and Replacement, Journal of the Operational Research Society, Vol. 30, pp. 457–467, 1979.
Tapiero, C. S., andZuckerman, D.,Vehicle Dispatching with Competition, Transportation Research, Vol. 133, pp. 207–216, 1979.
Sheshinsky, E., andWeiss, Y.,Inflation and Costs of Price Adjustment, Review of Economic Studies, Vol. 64, pp. 287–303, 1977.
Author information
Authors and Affiliations
Additional information
Communicated by M. D. Intriligator
This work was supported by the European Institute for Advanced Studies in Management, Brussels, Belgium.
Rights and permissions
About this article
Cite this article
Bensoussan, A., Tapiero, C.S. Impulsive control in management: Prospects and applications. J Optim Theory Appl 37, 419–442 (1982). https://doi.org/10.1007/BF00934950
Issue Date:
DOI: https://doi.org/10.1007/BF00934950