Question:
A Bellman equation, named after Richard E. Bellman, is a necessary condition for optimality associated with the mathematical optimization method known as dynamic programming.It writes the "value" of a decision problem at a certain point in time in terms of the payoff from some initial choices and the "value" of the remaining decision problem that results from those initial choices. This breaks a dynamic optimization problem into a sequence of simpler subproblems, as Bellman's “principle of optimality” prescribes
Author: Daniel Ortega![A Bellman equation, named after Richard E. Bellman, is a necessary condition for optimality associated with the mathematical optimization method known as dynamic programming.It writes the "value" of a decision problem at a certain point in time in terms of the payoff from some initial choices and the "value" of the remaining decision problem that results from those initial choices. This breaks a dynamic optimization problem into a sequence of simpler subproblems, as Bellman's “principle of optimality” prescribes](https://markdown.memory.com/assets/uploadImageUrl__60cbebc7-4357-40ec-9b45-27656ceec2df.jpg)
Answer:
Bellman's Equation
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Author
Daniel Ortega![Daniel Ortega](https://markdown.memory.com/assets/uploadImageUrl__20ae8c2b-bcdb-43f2-a5bf-98f83c1b047c.jpg)