A Dynamic Programming Decision-Making Model of Investment Policy for Unconventional Oil Exploitation
作者： Jinfeng Sun , Xiangpei Hu
DOI: 10.1007/978-3-642-29977-3_34
关键词: Return on investment 、 Decision model 、 Investment (macroeconomics) 、 Dynamic programming 、 Investment policy 、 Economics 、 Unconventional oil 、 Microeconomics 、 Decision-making models 、 Decision support system 、 Operations research
摘要: In this paper we focus on investment policy problems of unconventional oil exploitation and set up a dynamic programming model to help decision makers decide how allocate the limited resources among projects maximize total expected profits from horizon. Firstly, urgency feasibility developing were introduced. Secondly, properties difficulty complexity exploiting them analyzed. Thirdly, multi-stage was developed companies select an optimal given return investment. Finally, numerical example provided by applying through backward recursion algorithm. The results demonstrate that provides effective efficient support tool for exploitation.
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