03/04/2000
Comment on Icmeli and Erengucs
Bagchi Amitava, Dhavale N P, and Sanjay Verma
Working Papers
In a recent paper, Icmeli and Erengue (1996) present an algorithm to maximize the Net Present Value (NPV) of a given project under renewable resource constraints. It is shown here, with the help of an example, that in some cases the algorithm fails to find an optimal solution. A simple modification in the last step of the algorithm resolves the problem.