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Countable-state average-cost regenerative stopping problems

Published online by Cambridge University Press:  14 July 2016

Bruce L. Miller
Bruce L. Miller*
Affiliation:
University of California, Los Angeles
*
∗Postal address: Department of System Science, University of California, Los Angeles, CA 90024, U.S.A.
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Abstract

Regenerative stopping problems are stopping problems which recommence from the initial state upon stopping. An algorithm is presented which solves semi-Markov regenerative stopping problem with a finite number of continue actions by solving a sequence of stopping problems. New results for the optimal stopping problem are obtained as well as for the regenerative stopping problem. A model in the literature is used as a detailed example of the algorithm.

Keywords

OPTIMAL STOPPINGAVERAGE-COST DYNAMIC PROGRAMMINGREPLACEMENTRENEWAL THEORY
Type
Research Papers
Information
Journal of Applied Probability , Volume 18 , Issue 2 , June 1981 , pp. 361 - 377
Copyright
Copyright © Applied Probability Trust 

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Footnotes

Research supported in part by the Office of Naval Research under Contract N0014–78–C–0428, and the National Science Foundation under Contract ENG–76–122501–A01.

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