Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2011-04-12
2011-04-12
Weisberger, Richard C (Department: 3693)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
Reexamination Certificate
active
07925565
ABSTRACT:
The present invention relates to dynamic optimization of system control over time. The need for dynamic optimization arises in many settings, as diverse as solar car power consumption during a multi-day race and retirement portfolio management. We disclose a reformulation of the control problem that overcomes the so-called “curse of dimensionality” and allows formulation of optimal control policies multiple period planning horizons. One optimal control policy is for power consumption by a solar car during a race, which involves many course segments, as course conditions vary through a day. Another is for risk in and consumption from a portfolio intended to support retirement. Both multi-period control policies take into account future uncertainty. Particular aspects of the present invention are described in the claims, specification and drawings.
REFERENCES:
patent: 4885686 (1989-12-01), Vanderbei
patent: 5148365 (1992-09-01), Dembo
patent: 5216593 (1993-06-01), Dietrich et al.
patent: 5787283 (1998-07-01), Chin et al.
patent: 5884276 (1999-03-01), Zhu et al.
patent: 5884283 (1999-03-01), Manos
patent: 5913198 (1999-06-01), Banks
patent: 5963911 (1999-10-01), Walker et al.
patent: 6009402 (1999-12-01), Whitworth
patent: 6012044 (2000-01-01), Maggioncalda et al.
patent: 6021397 (2000-02-01), Jones et al.
patent: 6032123 (2000-02-01), Jameson
patent: 6167320 (2000-12-01), Powell
patent: 6182007 (2001-01-01), Szczerba
patent: 6219649 (2001-04-01), Jameson
patent: 6292787 (2001-09-01), Scott et al.
patent: 6411939 (2002-06-01), Parsons
patent: 6459955 (2002-10-01), Bartsch et al.
patent: 6591232 (2003-07-01), Kassapoglou
patent: 6606527 (2003-08-01), de Andrade, Jr. et al.
patent: 6684190 (2004-01-01), Powers et al.
patent: 6684193 (2004-01-01), Chavez et al.
patent: 6885902 (2005-04-01), Crampton et al.
patent: 6898472 (2005-05-01), Crampton et al.
patent: 6965867 (2005-11-01), Jameson
patent: 6981377 (2006-01-01), Vaynberg et al.
patent: 7050873 (2006-05-01), Discenzo
patent: 7062458 (2006-06-01), Maggioncalda et al.
patent: 7120601 (2006-10-01), Chen et al.
patent: 7149713 (2006-12-01), Bove et al.
patent: 7284054 (2007-10-01), Radhakrishnan
patent: 2001/0032029 (2001-10-01), Kauffman
patent: 2002/0091604 (2002-07-01), Loeper
patent: 2002/0147678 (2002-10-01), Drunsic
patent: 2003/0126054 (2003-07-01), Purcell
patent: 2003/0130975 (2003-07-01), Muller
patent: 2003/0172018 (2003-09-01), Chen et al.
patent: 2003/0195831 (2003-10-01), Feldman
patent: 2003/0233301 (2003-12-01), Chen et al.
patent: 2004/0199372 (2004-10-01), Penn
patent: 2004/0205018 (2004-10-01), Degraaf et al.
patent: 2005/0004855 (2005-01-01), Jenson et al.
patent: 2005/0052080 (2005-03-01), Maslov et al.
patent: 2005/0119959 (2005-06-01), Eder
patent: 2005/0137172 (2005-06-01), Dalton et al.
patent: 2005/0144110 (2005-06-01), Chen et al.
patent: 2005/0167172 (2005-08-01), Fernandez
patent: 2005/0183421 (2005-08-01), Vaynberg et al.
patent: 2005/0187851 (2005-08-01), Sant
patent: 2005/0209905 (2005-09-01), Ness et al.
patent: 2006/0004653 (2006-01-01), Strongin
patent: 2006/0036528 (2006-02-01), Harnsberger
patent: 2006/0143103 (2006-06-01), Denne et al.
patent: 2006/0190372 (2006-08-01), Chhabra et al.
patent: 2006/0271466 (2006-11-01), Gorbatovsky
patent: 2006/0278449 (2006-12-01), Torre-Bueno
patent: 2007/0016432 (2007-01-01), Piggott et al.
patent: 2007/0112475 (2007-05-01), Koebler et al.
patent: 2007/0136148 (2007-06-01), Stremler et al.
patent: 2007/0233594 (2007-10-01), Nafeh
patent: 2007/0244777 (2007-10-01), Torre et al.
patent: 02054294 (2002-07-01), None
patent: 03058542 (2003-07-01), None
patent: WO/2005/119506 (2005-12-01), None
patent: 2006071718 (2006-07-01), None
patent: 2006088550 (2006-08-01), None
patent: 2007106519 (2007-09-01), None
International Search Report, mailed Apr. 8, 2009, International Application No. PCT/US2008/079734.
Daniels, M.W., et al., Jun. 1999, “The Optimal Use of the Solar Power Automobile”, Control Systems Magazine, IEEE, vol. 19, issue 3, pp. 12-22.
Cocco, J.F., Gomes, F.J. & Maenhout, P.J. 2005, “Consumption and Portfolio Choice over the Life Cycle”, Review of Financial Studies, vol. 18, No. 2, pp. 491-533.
Kahvecioglu, D.C. 2006, Two Essays on Life Cycle Models, University of North Carolina at Chapel Hill.
Sondergeld, E.T., Drinkwater, M.F., Landsberg, D.G. & Selby, M.B. 2003, Retirement Planning Software, LIMRA International, Inc. and Society of Actuaries, USA.
Boland, J. et al., 2000, “Stochastic Optimal Control of a Solar Car”, Centre for Industrial and Applicable Mathematics, University of South Australia.
Stefek, D., 2002, “The Barra Integrated Model”, Barra, Inc.
Bruckenstein, J.P., 2005, “The Software You Need Now”, www.financial-planning.com/pubs/fp/20051201015.html, accessed on May 2, 2006.
Bruckenstein, J., Oct. 2005, “No-Cost Retirement Planning Software”, http://cfpnonline.com/past—issues.php?idArticle=1057&idPastIssue=102, accessed on May 2, 2006.
Chen, P. et al. Jun. 2003, “Merging Asset Allocation and Longevity Insurance: An Optimal Perspective on Payout Annuities,” FPA Journal, http://www.fpanet.org/journal/articles/2003—Issues/jfp0603-art7.cfm?renderforprint=1, accessed on Apr. 25, 2006.
Chen, P. et al., Feb. 20, 2003, “Merging Asset Allocation and Longevity Insurance: An Optimal Perspective on Paul Annuities.”
Guyton, J.T., Oct. 2004, “Decision Rules and Portfolio Management for Retirees: Is the ‘Safe’ Initial Withdrawal Rate Too Safe?” Journal of Financial Planning.
“Professional Advisor: The investment advice solution for financial professionals,” mPower, 2002.
Punishill, J. et al., Sep. 25, 2002, “Grading Advisors' Planning Tools,” WholeView TechStrategy Research, Forrester Research, Inc.
Rappaport, A.M., Apr. 15, 2003, “Retirement Planning Software for Tomorrow's Retirement,” Mercer Human Resource Consulting.
Torre, N.G. et al., Summer 2004, “The Portfolio Management Problem of Individual Investors: A Quantitative Perspective,” Advisor Software, as published in Institutional Investor's Guide to Integrated Wealth Management.
.Arsie, I., et al., A Parametric Study of the Design Variable for a Hybrid Electric Car with Solar Cells, Proceedings of the METIME Conference, Jun. 2005—dimec.unisa.it http://scholar.google.com/scholar?hl=en&lr=&cluster=14742562871641902068.
Goren, Sami, “The use of hydrogen powered buses in metropolitan areas,” Dept of Environmental Engineering, Istanbul. http://www.ichet.org/ihec2005/files/manuscripts/Goren%20S.1-Tr.pdf.
Pudney, P., et al., Critical Speed Control of a Solar Car, Optimization and Engineering, vol. 3, No. 2/Jun. 2002, DOI: 10.1023/A:1020907101234, pp. 97-107, Posted: Nov. 2, 2004. http://www.springerlink.com/content/x232407132368012/.
Snowdon, David, “Hardware and Software Infrastructure for the Optimisation of Sunswift II,” (2002). http://citeseer.ist.psu.edu/update/572215 http://www.cse.unsw.edu.au/˜daves.
Thompson, Tyler, “EE395C Environmental Impact/Optimization Report Hydrogen Fuel Cells in Electric Automobiles,” http://oak.cats.ohiou.edu/˜tt106402/work/ee395c/Environmental%20Report.doc.
Abdelkhalek, A., “Parallelization, optimization, and performance analysis of portfolio choice models,” in: Parallel Processing, International Conference, 2001, Publication Date: Sep. 3-7, 2001 On pp. 277-286, INSPEC Accession No. 7081902, DOI: 10.1109/ICPP.2001.952072, Posted online: Aug. 7, 2002.
Curcuru, S., et al., “Heterogeneity and Portfolio Choice: Theory and Evidence,” Handbook of Financial Econometrics, 2004—gsbwww.uchicago.edu.
McClatchey, C.A., et al., “The Efficacy of Optimization Modeling as a Retirement Strategy in the Presence of Estimation Error,” Financial Services Review, 2005 rmi.gsu.edu.
Mulvey, J.M., et al., Multi-stage Optimization for Long-term I
Rudd Andrew T.
Torre Nicolo G.
Advisor Software Inc.
Beffel, Jr. Ernest J.
Haynes Beggel & Wolfeld LLP
Weisberger Richard C
LandOfFree
Stochastic control system and method for multi-period... does not yet have a rating. At this time, there are no reviews or comments for this patent.
If you have personal experience with Stochastic control system and method for multi-period..., we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Stochastic control system and method for multi-period... will most certainly appreciate the feedback.
Profile ID: LFUS-PAI-O-2666716