Awi Federgruen

A general Markov decision method II: Applications

Coauthor(s): G. de Leve, H. C. Tijms.

Abstract:
In a preceding paper we have introduced a new approach for solving a wide class of Markov decision problems in which the state-space may be general and the system may be continuously controlled. The criterion is the average cost. This paper discusses two applications of this approach. The first application concerns a house-selling problem in which a constructor builds houses which may be sold at any stage of the construction and potential customers make offers depending on the stage of the construction. The second application considers an M/M/c queuing problem in which the number of operating servers can be controlled by turning servers on or off.

Source: Advances in Applied Probability
Exact Citation:
de Leve, G., Awi Federgruen, and H. C. Tijms. "A general Markov decision method II: Applications." Advances in Applied Probability 9 (1977): 316-335.
Volume: 9
Pages: 316-335
Date: 1977