The PDSN stands for Packet Data Serving Node. This element is responsible to setup de R-P sessions between the RNC (Air Interface) to the PDSN (Packet Interface). Also, assign the IP address to the mobile to allow it to access the internet. When you use a PDSN in the network you will not have mobility for your users because if you change from one base station to another base station connected to other PDSN, you will lose your IP and the mobile will do all the process to get a new one. To avoid this situation you can use another equipment called HA (Home Agent) who helps to keep the IP address of the mobile and it can move freely without a problem. The PDSN was used in CDMA 1xEVDO networks for 3G networks.
In the other hand EPC stand for Evolved Packet Core and it is the main part of the LTE networks. The EPC has different components like: HSS, MME, PDN, PCRF and other. Each element has a specific function for example the HSS is the users database, the MME act as the interface between the RNC (Air interface) and the Packet network.
I hope this information helps to understand the concepts.
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