Background
Sethi, Suresh Pal was born on July 8, 1945 in Ladnun, Rajashtan, India. Came to the United States, 1967. Son of Gulab Chand and Manak Bai Sethi.
( Optimal control methods are used to determine optimal w...)
Optimal control methods are used to determine optimal ways to control a dynamic system. The theoretical work in this field serves as a foundation for the book, which the authors have applied to business management problems developed from their research and classroom instruction. Sethi and Thompson have provided management science and economics communities with a thoroughly revised edition of their classic text on Optimal Control Theory. The new edition has been completely refined with careful attention to the text and graphic material presentation. Chapters cover a range of topics including finance, production and inventory problems, marketing problems, machine maintenance and replacement, problems of optimal consumption of natural resources, and applications of control theory to economics. The book contains new results that were not available when the first edition was published, as well as an expansion of the material on stochastic optimal control theory.
http://www.amazon.com/gp/product/0387280928/?tag=2022091-20
(This book presents papers on continuous-time consumption...)
This book presents papers on continuous-time consumption investment models by Suresh Sethi and various co-authors. Sir Isaac Newton said that he saw so far because he stood on the shoulders of gi ants. Giants upon whose shoulders Professor Sethi and colleagues stand are Robert Merton, particularly Merton's (1969, 1971, 1973) seminal papers, and Paul Samuelson, particularly Samuelson (1969). Karatzas, Lehoczky, Sethi and Shreve (1986), henceforth KLSS, re produced here as Chapter 2, reexamine the model proposed by Mer ton. KLSS use methods of modern mathematical analysis, taking care to prove the existence of integrals, check the existence and (where appro priate) the uniqueness of solutions to equations, etc. KLSS find that un der some conditions Merton's solution is correct; under others, it is not. In particular, Merton's solution for aHARA utility-of-consumption is correct for some parameter values and not for others. The problem with Merton's solution is that it sometimes violates the constraints against negative wealth and negative consumption stated in Merton (1969) and presumably applicable in Merton (1971 and 1973). This not only affects the solution at the zero-wealth, zero-consumption boundaries, but else where as well. Problems with Merton's solution are analyzed in Sethi and Taksar (1992), reproduced here as Chapter 3.
http://www.amazon.com/gp/product/1461378710/?tag=2022091-20
(One of the most important methods in dealing with the opt...)
One of the most important methods in dealing with the optimization of large, complex systems is that of hierarchical decomposition. The idea is to reduce the overall complex problem into manageable approximate problems or subproblems, to solve these problems, and to construct a solution of the original problem from the solutions of these simpler prob lems. Development of such approaches for large complex systems has been identified as a particularly fruitful area by the Committee on the Next Decade in Operations Research (1988) 42 as well as by the Panel on Future Directions in Control Theory (1988) 65. Most manufacturing firms are complex systems characterized by sev eral decision subsystems, such as finance, personnel, marketing, and op erations. They may have several plants and warehouses and a wide variety of machines and equipment devoted to producing a large number of different products. Moreover, they are subject to deterministic as well as stochastic discrete events, such as purchasing new equipment, hiring and layoff of personnel, and machine setups, failures, and repairs.
http://www.amazon.com/gp/product/1461266947/?tag=2022091-20
(This book presents papers on continuous-time consumption...)
This book presents papers on continuous-time consumption investment models by Suresh Sethi and various co-authors. Sir Isaac Newton said that he saw so far because he stood on the shoulders of gi ants. Giants upon whose shoulders Professor Sethi and colleagues stand are Robert Merton, particularly Merton's (1969, 1971, 1973) seminal papers, and Paul Samuelson, particularly Samuelson (1969). Karatzas, Lehoczky, Sethi and Shreve (1986), henceforth KLSS, re produced here as Chapter 2, reexamine the model proposed by Mer ton. KLSS use methods of modern mathematical analysis, taking care to prove the existence of integrals, check the existence and (where appro priate) the uniqueness of solutions to equations, etc. KLSS find that un der some conditions Merton's solution is correct; under others, it is not. In particular, Merton's solution for aHARA utility-of-consumption is correct for some parameter values and not for others. The problem with Merton's solution is that it sometimes violates the constraints against negative wealth and negative consumption stated in Merton (1969) and presumably applicable in Merton (1971 and 1973). This not only affects the solution at the zero-wealth, zero-consumption boundaries, but else where as well. Problems with Merton's solution are analyzed in Sethi and Taksar (1992), reproduced here as Chapter 3.
http://www.amazon.com/gp/product/079239755X/?tag=2022091-20
Management educator researcher
Sethi, Suresh Pal was born on July 8, 1945 in Ladnun, Rajashtan, India. Came to the United States, 1967. Son of Gulab Chand and Manak Bai Sethi.
Bachelor of Technology in Mechanical Engineering with honors, Indian Institute of Technology, Bombay, 1967. Master of Business Administration, Washington State University, 1969. Master of Science in Industrial Administration, Carnegie Mellon University, 1971.
Doctor of Philosophy, Carnegie Mellon University, 1972.
Instructor finance Carnegie Mellon University, Pittsburgh, 1969-1970. Assistant professor management science Rice University, Houston, 1972-1973. From assistant professor to associate professor University Toronto, Ontario, Canada, 1973-1977, professor operations management Canada, 1978-1992, professor, director laboratory manufacturing Canada, 1992-1997.
Ashbel Smith professor University Texas Dallas, Richardson, since 1997. Visiting associate professor Carnegie Mellon University, Pittsburgh, 1977-1978.
(One of the most important methods in dealing with the opt...)
(This book presents papers on continuous-time consumption...)
(This book presents papers on continuous-time consumption...)
( Optimal control methods are used to determine optimal w...)
(Book by Sethi, Suresh P., Thompson, Gerald L.)
Founder Gulab Chand Sethi Charitable Trust, Ladnun, India, 1980. District science fair judge Plano (Texas) Indiana School District, since 1999. Fellow Institute of Electrical and Electronics Engineers, American Association for the Advancement of Science, Industrial Craft ² Institute, Canada Academy of Sciences and Humanities, New York Academy of Sciences, Production and Operations Management Society (life), Institute for Operations Research and Management Sciences.
Member Canada Operational Research Society (Award of Merit 1996), Decision Sciences Institute, International Society on Methodology for Complex Societal Problems, Operations Research Society of India (life), Society for Industrial and Applied Mathematics, Society for Operations Management (India), The Society of Management Science and Applied Cybernetics (India).
Married Andrea Sethi, May 25, 1988. Children: Chantal Angelina, Anjuli Sulochana.