An optimal threshold policy in applications of a two-state Markov process

DOI10.1007/978-3-319-00669-7_11MaRDI QIDQ4979409zbMATH OpenOpenAlexFDO

Authors Eugene Khmelnitsky

Publication date 20 June 2014

Published in International Series in Operations Research & Management Science (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/978-3-319-00669-7_11

zbMATH Keywords

necessary optimality conditionsstate-costate dynamicstwo-state Markov processoptimal threshold policyregular and singular control regimes

Mathematics Subject Classification ID

Applications of Markov chains and discrete-time Markov processes on general state spaces (social mobility, learning theory, industrial processes, etc.) (60J20) Optimality conditions for problems involving randomness (49K45) Applications of optimal control and differential games (49N90)

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Cites work

• scientific article; zbMATH DE number 52107 (Why is no real title available?)
• scientific article; zbMATH DE number 1734433 (Why is no real title available?)
• A Survey of the Maximum Principles for Optimal Control Problems with State Constraints
• Balancing facilities in aggregate production planning: Make-to-order and make-to-stock environments
• Occupation times and Bessel densities
• On temporally completely monotone functions for Markov processes
• Optimal control of production rate in a failure prone manufacturing system
• Optimal feedback production planning in a stochastic \(N\)-machine flowshop
• Optimal investment, stochastic labor income and retirement
• Optimal production control of a failure-prone machine

Cited in

(4)

• scientific article; zbMATH DE number 2041503 (Why is no real title available?)
• Symbolic and Quantitative Approaches to Reasoning with Uncertainty
• Optimal control of the two-state Markov process in discrete time
• Optimal threshold probability in undiscounted Markov decision processes with a target set.

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