Value of Information in the Deterministic Optimal Resource Extraction Problem with Terminal Constraints
Gromova E. Bolatbek A.
January 2023MDPI
Applied Sciences (Switzerland)
2023#13Issue 2
In this paper, we consider a continuous-time differential game of non-renewable resource extraction with n players and assume that the terminal conditions of the game vary. To characterize the gain that the players obtain by using precise information, we use the notion of value of information in relation to the knowledge of terminal conditions. The stated problem is studied for two cases, a linear and a nonlinear one. The obtained results are illustrated for the real values of the parameters.
differential game , optimal control , value of information
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Transport and Telecommunication Institute, Riga, LV-1019, Latvia
School of Engineering and Digital Sciences, Nazarbayev University, Astana, 010000, Kazakhstan
Transport and Telecommunication Institute
School of Engineering and Digital Sciences
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