Explicit solution of the average-cost optimality equation for a pest-control problem (Q638155)
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| Language | Label | Description | Also known as |
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| English | Explicit solution of the average-cost optimality equation for a pest-control problem |
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Explicit solution of the average-cost optimality equation for a pest-control problem (English)
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9 September 2011
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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.
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