Over the last two decades, risk-sensitive control has evolved into an innovative and successful framework for solving dynamically a wide range of practical inve

This volume provides the definitive treatment of fortune's formula or the Kelly capital growth criterion as it is often called. The strategy is to maximize long

This volume contains more than sixty invited papers of international wellknown scientists in the fields where Alain Bensoussan's contributions have been particu

This book shows the breadth and depth of stochastic programming applications. All the papers presented here involve optimization over the scenarios that represe

During the last fifty years, Gopinath Kallianpur has made extensive and significant contributions to diverse areas of probability and statistics, including stoc