Stochastic dynamic programming (SDP) is an extension of dynamic programming that incorporates randomness in decision-making processes. It is a mathematical method used to solve problems where decisions need to be made sequentially over time in the presence of uncertainty. ### Key Components of Stochastic Dynamic Programming: 1. **State Space**: The set of all possible states that the system can be in. A state captures all relevant information necessary to make decisions at any point in the process.
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