Explicit solution of the average-cost optimality equation for a pest-control problem (Q638155)

Summary: We introduce a Markov decision process in continuous time for the optimal control of a simple symmetrical immigration-emigration process by the introduction of total catastrophes. It is proved that a particular control-limit policy is average cost optimal within the class of all stationary policies by verifying that the relative values of this policy are the solution of the corresponding optimality equation.