An Approximate Dynamic Programming heuristic to support non-strategic project selection for the Royal Canadian Navy. (April 2015) - Fisher, Brent
We consider an Approximate Dynamic Programming heuristic to support the selection of defense projects when projects have different values and are originated intermittently but fairly frequently. We show that a simple policy reserving a positive fraction of the available budget for high-value projects not yet originated is superior to a greedy knapsack approach.