A note on the vanishing interest rate approach in average Markov decision chains with continuous and bounded costs

DOI10.1016/0167-6911(94)00042-TMaRDI QIDQ673449zbMATH OpenOpenAlexFDO

Authors Rolando Cavazos-Cadena

Publication date 28 February 1997

Published in Systems \& Control Letters (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0167-6911(94)00042-t

zbMATH Keywords

Markov decision chainsAverage optimal stationary policiesNecessary and sufficient conditions for application of the VIR methodVanishing discount effect methodVanishing interest rate approach

Mathematics Subject Classification ID

Optimal stochastic control (93E20)

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• A new condition for the existence of optimal stationary policies in average cost Markov decision processes
• Adaptive Markov control processes
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• Discrete Dynamic Programming
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• Equivalence of Lyapunov stability criteria in a class of Markov decision processes
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• Markovian Sequential Replacement Processes
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• Non-Discounted Denumerable Markovian Decision Models
• On Minimum Cost Per Unit Time Control of Markov Chains
• On the compactness method in general ergodic impulsive control of markov processes
• Optimal Stationary Policies in General State Space Markov Decision Chains with Finite Action Sets
• Optimal control of service rates in networks of queues
• Weak conditions for average optimality in Markov control processes

Cited in

(3)

• Application of average dynamic programming to inventory systems
• Approximation of average cost optimal policies for general Markov decision processes with unbounded costs
• Another set of conditions for average optimality in Markov control processes

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