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We consider a mutual insurance system whose reserve is determined by a Brownian motion. The controller tries to minimize the total cost by increase or reduce the reserve instantly. Both cases of zero and positive fixed cost are investigated. By applying the theory of stochastic control with QVI approach, we make the connection between singular control and impulse control. The procedures to solve these...
In this paper, the probability density function (PDF) control strategy has been employed to drive the PDF of the random tracking error for a class of robotic manipulator to approach the desired PDF, where the tracking error may be subjected to noises that follow non-Gaussian probability distribution. The ILC frame about PDF control approach has been proposed and a recursive optimization solution of...
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