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Dynamic creative optimization (DCO), is a form of programmatic advertising that allows advertisers to optimize the performance of their creative using real-time technology. In DCO, a variety of ad components (backgrounds, main images, text, value propositions, call to action, etc.) are dynamically assembled on the flight, when the ad is served ...
Mathematical programming with equilibrium constraints (MPEC) is the study of constrained optimization problems where the constraints include variational inequalities or complementarities. MPEC is related to the Stackelberg game. MPEC is used in the study of engineering design, economic equilibrium, and multilevel games.
Dynamic programming is both a mathematical optimization method and an algorithmic paradigm. The method was developed by Richard Bellman in the 1950s and has found applications in numerous fields, from aerospace engineering to economics .
Optimisation and Stability Theory for Economic Analysis. New York: Cambridge University Press. pp. 252– 259. ISBN 0-521-33605-8. Léonard, Daniel; Long, Ngo Van (1992). "Endpoint Constraints and Transversality Conditions". Optimal Control Theory : Static Optimization in Economics. New York: Cambridge University Press. pp. 221– 262.
The optimization of portfolios is an example of multi-objective optimization in economics. Since the 1970s, economists have modeled dynamic decisions over time using control theory. [14] For example, dynamic search models are used to study labor-market behavior. [15] A crucial distinction is between deterministic and stochastic models. [16]
An optimization problem with discrete variables is known as a discrete optimization, in which an object such as an integer, permutation or graph must be found from a countable set. A problem with continuous variables is known as a continuous optimization, in which an optimal value from a continuous function must be found.
A creative economy is based on people's use of their creative imagination to increase an idea's value.John Howkins developed the concept in 2001 to describe economic systems where value is based on novel imaginative qualities rather than the traditional resources of land, labour and capital.: [1] Compared to creative industries, which are limited to specific sectors, the term is used to ...
The value function of an optimization problem gives the value attained by the objective function at a solution, while only depending on the parameters of the problem. [1] [2] In a controlled dynamical system, the value function represents the optimal payoff of the system over the interval [t, t 1] when started at the time-t state variable x(t)=x. [3]