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Compiled in honor of Onésimo Hernández-Lerma, this volume offers a broad presentation of the main concepts, techniques, and methodologies in the fields of optimization and control of stochastic systems. At the same time, the book provides an overview of their wide-ranging applications and theoretical developments. These topics include various aspects of dynamic programming, discounted and average optimality criteria for discrete- and continuous-time control processes, approximation algorithms, optimal stopping, and games. The work comprises 18 carefully selected papers written by experts in their respective fields, and explores five major themes: * discrete-time Markov control processes; * several optimality criteria; * applications in inventory systems and finance; * stochastic optimal control problems for diffusion; * optimization. This book will be a valuable resource for all practitioners, researchers, and professionals in applied mathematics and operations research who work in the areas of stochastic control, mathematical finance, queueing theory, and inventory systems. It may also serve as a supplemental text for graduate courses in optimal control and its applications.

Approximation theory. --- Convergence. --- Stochastic systems. --- Stochastic systems --- Markov processes --- Mathematics --- Civil & Environmental Engineering --- Physical Sciences & Mathematics --- Engineering & Applied Sciences --- Mathematical Statistics --- Operations Research --- Markov processes. --- Control theory. --- Hernández-Lerma, O. --- Analysis, Markov --- Chains, Markov --- Markoff processes --- Markov analysis --- Markov chains --- Markov models --- Models, Markov --- Processes, Markov --- Hernández-Lerma, Onésimo --- Lerma, O. Hernández --- -Hernández, O. --- Hernández L., Onésimo --- Mathematics. --- Applied mathematics. --- Engineering mathematics. --- Game theory. --- System theory. --- Mathematical optimization. --- Operations research. --- Management science. --- Systems Theory, Control. --- Game Theory, Economics, Social and Behav. Sciences. --- Appl.Mathematics/Computational Methods of Engineering. --- Operations Research, Management Science. --- Optimization. --- Applications of Mathematics. --- Dynamics --- Machine theory --- Stochastic processes --- Systems theory. --- Mathematical and Computational Engineering. --- Optimization (Mathematics) --- Optimization techniques --- Optimization theory --- Systems optimization --- Mathematical analysis --- Maxima and minima --- Operations research --- Simulation methods --- System analysis --- Engineering --- Engineering analysis --- Math --- Science --- Quantitative business analysis --- Management --- Problem solving --- Statistical decision --- Operational analysis --- Operational research --- Industrial engineering --- Management science --- Research --- System theory --- Games, Theory of --- Theory of games --- Mathematical models --- Systems, Theory of --- Systems science --- Philosophy --- Hernandez-Lerma, O.