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Based on stochastic maximum principle, the optimal control algorithm is proposed for Markov jump system with Constrained Control Input. With statistical linearization method, the parametes of the optimal controler can be achieved by solving a Riccati function. Finally the simulation examples are given to test and verify the function of optimal controller designed in this paper.
Based on the prospect theory, this paper studies the revenue-sharing contract with stock-out cost of supply chain with a loss-averse retailer and a risk-neutral supplier. The order behaviors of a loss-averse retailer in the wholesale price contract and the revenue-sharing contract were studied respectively. It finds, with stock-out cost, the optimized order quantity of the loss-averse retailer may...
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