This paper shows how an operational method for solving dynamic programs can be used, in some cases, to solve the problem of maximizing a firm's market value. The problem is formulated as a Markov decision problem that can be solved via linear programming. The paper shows how to calculate (or estimate) the state-contingent prices that are used to value the firm. In addition, the paper points out how states can be aggregated to make the solution technique more practical. The paper's final section contains a specific example.

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