MDPSolve

What is MDPSolve?

MDPSolve is a set of software tools, written in the MATLAB programming language, for solving dynamic optimization problems. It was developed to simplify the process of specifying, solving and analyzing Markov Decision Problems (MDPs). These procedures can be used for a variety of management problems including many that arise in the fields of environmental and resource management. The software and User's Guide were written and this site is managed by Paul L. Fackler, a professor in the department of Agricultural and Resource Economics at North Carolina State University.

Why Use MDPSolve?

MDPSolve is designed to handle both simple and complex problems using a standard interface. Because it is written in the MATLAB language, problems specified and solved using MDPSolve can automatically access all of the power and flexibility of this widely used language. In developing MDPSolve careful attention has been given to using efficient algorithms that are both fast and use as little memory as possible. This allows users to solve large problems even on personal computers. In addition, MDPSolve incorporates a number of advanced features such as adaptive management and partial observability, as well as procedures to work with both explicit and implicit spatial models. MDPSolve also has the ability to work with factored models and has a graphical specification approach.

MATLAB

MATLAB is a high level programming language marketed by MathWorks. It is widely widely used in academia, government, engineering and business. It provides an integrated development environment that allows models to be quickly developed and analyzed.